Loans

photo credit: Wonderlane

f you have been looking at furthering your education or if you are currently attending college, you probably realize by now that it can be quite expensive. Even if you can get a loan it may be a bad credit unsecured student loan. Then you have to deal with financial pressures and the pressures that the classes put on us. One thing that can really help us out is to get a student loan that will pay for our tuition, books and may even help us out with our living expenses until we are able to finish school. Unfortunately, some of us have less than perfect credit so we need to find a bad credit unsecured student loan since we can’t go the normal route. (more…)

photo credit: tosaytheleast

Who knows the term hard money?

Hard money is private money lending, money you will receive from individuals that will loan you their money against your real estate, hard money lender is the bank and the bank will Loan you their money and put a lien against your real estate, the same with hard money lenders.

What is the difference between the hard money lender’s programs and the bank across the street?

1. Hard money lenders can help investors with large loan amounts, while banks will make it very difficult on the borrower to loan these large amount, so the loan would probably end up with an insurance company to loan the money and the requirements are high.

2. Hard money lenders can fund any hard money loan within a week, while for the banks it will take at least a month or even more.

3. Hard money lenders will ask for very little documentation, while the banks would ask for almost everything you have, taxes, income, assets, history of the property before and plans for after the purchase, business license, basically they will definitely want to see more from you to loan you some money.

4. Hard money lenders have guidelines but they can make exceptions without processing it through a whole underwriting team- while the bank need to go through different departments and underwriters and processors just to make an exception, and then the exception will not get excepted. (more…)