Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
Even though New Jersey hard money lenders do not fall under the same regulations as traditional lenders, there are still some laws they must follow in the process of conducting business. Those borrowers living in other states must make sure they know the laws in the...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
Before you finalize a deal with any hard money lender in New York, it is essential to make sure you know the terms of the transaction. You should also become informed about the legality of the transaction. Some laws that pertain to traditional lenders do not apply to...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
Gap Funding. What is it? Why are so many looking for it? And does it work? We will start with the first question – what is it? It is usually brought to a private money deal by a venture capital firm, or an angel investor, that covers the short fall between what...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
While it is always a good idea to have an attorney overlook any contract before you sign, this is especially important when it involves a hard money lender in New Jersey. There are some laws that do not pertain to hard money lenders, and unless you know the legalities...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
New Jersey hard money lenders charge points on loans just like the typical traditional lender. The reasoning behind the two types of loans is completely different; the traditional lender charges points in most cases to offset charging a lower interest rate. The...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
The question of what happens to hard money lenders in NY is an important one—at least for the hard money lender. Can the borrower file bankruptcy in order to retain the property as a person can do with a traditional loan? What kind of protection is there for borrowers...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
Even though hard money lenders in NY are not in any way close to traditional lenders, they are far from being exempt from various fees in spite of their higher interest rates. It is important before you sign up with any hard money lender to be aware of the various...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
Before you start researching New Jersey hard money lenders, there are some things you need to know from the start. One of the most important things is to understand the differences between traditional loans and hard money loans. Do not assume they fall under the same...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
The FHFA (Federal Housing Finance Agency) recently announced their new REO (Real Estate Owned) Program, which will be targeted as some of the hardest hit metro areas. You must be pre-qualified for this program in order to be able to bid on purchases in the pilot phase...Mar 3, 2014 | Hard Money Blog, Hard Money Lenders Archives, HardMoneyMan.com News Archives
The laws governing trust deed investing will vary depending where the property is located, but there are some things that are important to know regarding how those transactions are handled. Before you contact a broker or hard money lender to discuss this type of...