Why does a bank go thru the Trustee Sale when they have a buyer and loan ready to fund? Is there NO communication between the departments? Why not put out a HOT list to investors of sales occurring in the next 2 weeks that will NOT go to sale if qualified good offer is made? A last minute Sale -sale on a home that didn’t sell. Win-Win A coordination with listing broker, negotiator and foreclosure dept. Unless the banks like to have houses sitting empty getting vandalized, landscape dying, that will cost them more money to hold, fix  and re-list, I don’t see why this occurs.  

I can fund a hard money loan in a week. I can approve in a day or two. However twice now the house sold in Trustee Sale a day or two before funding. That is crazy. The listing broker said we can get extension, no problem. Oops, went to sale. Then, you would think you should still put the approved sale thru as REO, but no, back to the who knows where it goes. ” Lets see how long we can delay this sale” says someone in that crazy banker process. Lets evict and let the home deteriorate. Then no conventional financing will work, only hard money lenders will fund it. Do they have another housing debacle plan up their sleeves? Maybe they are going into the Real Estate business, just send congress a check to get that ok’ed. They are not making loans. Maybe they are going into the hard money business.. They have gotten regulations passed so that  a large percentage of mortgage brokers are out of the business. They could be retail “hard money lenders” now.  Perhaps “put your home purchase on our new credit card,” then they can charge whatever rate they want. OK I will stop .Seriously though, what business are the banks in. I just see credit card ads. Since you will pay to use your own money on a debit card now…”We can get the consumer to use credit cards” then we can rake in the money and totally annihilate the middle class thru more debt at high interest rates again. Oh I see, credit cards are bankers way of getting into  “hard money”, without the DRE and Federal regulations. There still leaves the mystery of them hording the homes… Colleen Bigler 661-251-9075 Forms on web site. Colleen@loan-solution.com.

Colleen Bigler 661-251-9075

Colleen@loan-solution.com

http://bigler-hardmoneylenders.com/post/2566533/do-the-banksters-not-want-to-sell-homes-what-is-their-real-business-

There is a lot of need for Hard Money in today’s California market. There are hard money lenders which are pools of funds with guidelines that require financial documents in addition to good equity. Those lenders trust others to make decisions and therefore would or should be more restrictive lending.

Then there is  the knowledgeable investor, the hands on capitalist ,who makes his own decisions based on facts presented, an inspection of the property and his experience. The local investor. That’s us, Loan Solution Inc. There you get the quick decisive answer without all the bank red tape, based on lower loan- to- value, lower risk. I don’t know why the banks didn’t use that formula for the secondary market. Either they didn’t think or didn’t care. You can decide. In two decades I have never lost money in a Trust Deed investment.We lend locally and rarely rely on appraisals for our value. Common sense underwriting. Fast answers and fast closing. No up front fees. Performance is how we earn our money.

Colleen Bigler 661-251-9075

Colleen@loan-solution.com

http://bigler-hardmoneylenders.com/post/2368891/what-do-you-want-from-a-hard-money-lender-

While the banks are lending little and paying very little interest, the private money available has increased. I say take advantage of this market. For investors lending, bottom of market and conservative LTV’s there is little risk and high return in trust deed investments. For the real estate investor, well, Calf. is having a half-off sale. Leverage your purchases with hard money loans. We can give you 3-5 years so “rent and hold” can work for you. If you are needing cash out  of income propety, we can help borrowers  with   hard money loans. 

Commercial properties are also an opportunity. We fund commercial private money in California. so if you are buying or need to refiance that balloon payment, please call. With the right amount of Equity and 99% property underwriting, you could be funded in less than a week! We have investors with cash waiting. You need not worry about credit  nor documented income.

Our hard money loans for residential, are for non-owner occupied, non- consumer loans. We can’t keep up with all the new federal laws, and the  liabilities are not worth it. I have two names to give you if you have equity, and the home is primary residence, eveny with your  credit flaws or lack of tax returns that reflect your income. Free referral.

So don’t let the ship sail without you! Call Colleen 661-251-9075 or visit our site. Loan-solution.com  

Colleen Bigler 661-251-9075

Colleen@loan-solution.com

http://bigler-hardmoneylenders.com/post/2231902/plenty-of-private-money-available

So, how do you qualify for a hard money loan?Truth be told, you don’t. The property is or should be 99% of the underwriting criteria. Investors lend on property that has plenty of a protective equity left after funding the loan.

Asking for 100% financing ,for say an REO purchase money loan ,is something to ask your uncle. Investors look a profit and risk, the same as a buyer does.You offer 12% 2 pts so you can buy and flip a property in say 60 days and make 25% 30%..profit.That leaves the lending investor a whopping 2%, and he put up all the money and takes all the risk. That is why that concept doesn’t work. Also, future value after rehab, would be taking the risk that the work may not be done. So As-is value is looked at much closer.

Investors like to be 55-60% of value. If you can’t come in with all the cash balance needed their are other ways.

If you own another  property with equity that could  be borrowed in conjunction with the purchase, a blanket loan, also a seller carry back. However, the investor has to feel comfortable you have enough “skin in the game” so if the going gets tough you don’t walk away and leave him the problem.

Hope that helps someone.

Colleen Bigler

Loan Solution Inc.

661-251-9075

Dangers to avoid when investing in Trust Deeds in California. Title company errors can cause you problems with your Trust Deed Investments and purchases. You must double check them. I have caught many errors over the years. Real Estate crime has gone wild. The DA’s office is  overwhelmed. Read the rest of this entry »

http://bigler-hardmoneylenders.com/post/1693344/dangers-to-avoid-when-investing-in-trust-deeds-in-california

Finding Hard Money Lenders in California has its challenges. A time saving key would be to ask the question, are you a direct hard money lender? If not, you are working with a broker who may or may not  know a sufficient amount of Hard Money Lenders to shop your loan to. You need that variety of individual investors, to have a successful close, and to find the right hard money lender in Calif.  You may also be  adding  costs by paying more than one broker.

If it is taking more than 3-4 days to get a commitment, you are most likely barking up the wrong money tree.If they are more interested in your credit and income documents, verses your property, you may not be at the right place either.

A private investor, will drive the property within a few days if interested, and it usually is a sophisticated hard money lender, knowledgeable in real estate values. A private money lender is represented by a Broker, who handles the loan process for him. Appraisals are usually not required in this market by our investors. You certainly do not need to pay up front fees, except if an appraisal is requested. Hope that helps.
Any questions Call Colleen 661-251-9075 or to apply on line go to California Hard Money

Originally posted on activerain.com/blogs/colleenls

The market is a changing! While the banks are saying “no” we are saying “yes” and getting excellent Trust Deed Investments. 50% or less LTV is the name of the day. Borrowers with good credit, companies with good financials, good cash flowing properties. Bankable properties and borrowers- with hard money underwriting -makes the best investment vehicle I know. Too bad wall street didn’t know how to underwrite safe investments for the  sub-prime loans, they stole from the small private investors, of the 80′s. Although it gives back to the smaller private investor a greater pool of quality Trust Deed investments, now that banks aren’t even writing paper. Read the rest of this entry »

Hard Money Lenders – Private Investor loans- Wholesale/Direct lender/Broker ??? I often have brokers ask me “are you a wholesale lender or a broker”? Read the rest of this entry »

Our Hard Money note rate averages 12% interest only. However, we have some investors who will lend hard money at longer terms and lower note rates about 9.9% , for the right collateral. Read the rest of this entry »

The market is sure changing. I still think trust deed investments are the safest vehicle to grow your nest egg. I practice what I preach. I look at my stock portfolio and find it takes a lot of effort to remain the optimist. My trust deed investments are a calm in this storm. However just as one picks good and bad stock, you may have some trust deed investments that are not trouble free. Although I personally never lost money on any. Read the rest of this entry »