OFFICE OF THE GOVERNOR
R i c k P e r r y
For Immediate Distribution
Governor’s Press Office: 512-463-1826
July 13, 2010
News Release
Allison Castle: Allison.castle@governor.state.tx.us
Katherine Cesinger: kcesinger@governor.state.tx.us
Texas Declared America’s Top State for Business
CNBC Study Ranks Texas as No. 1 Business Climate in the Nation
AUSTIN – Texas is America’s Top [...]
The term “hard money lenders” can often be confusing to new borrowers. Basically, a borrower can either get “soft money” or “hard money.” Soft money is easy to get–it’s easy to qualify for and has flexible terms. Hard money is much more challenging to obtain because this money often comes from private investors, not a [...]
The sub prime mortgage market boomed at the beginning of the new century. Borrowers found mortgage companies friendly, even when they could offer no proof of employment and had low FICO scores. All across America, from shore to shore, easy home ownership was suddenly possible.
One thing borrowers did not take into consideration was that the [...]
The following four tips will help you find real hard money lenders and avoid swindlers posing as private investors.
The first tip is to get references. Trusting someone who calls you on the phone is not wise. Those funding deals should be able to give you references from former clients. Two client references who have closed [...]
Here are five important tips to understanding more about hard money.
1. A definition of hard money.
Hard money is a loan that uses real estate as collateral. The usual lending criteria used by banks and traditional lending institutions are not used, allowing someone with poor credit to get this type of loan. The real estate can [...]
Hard money lenders are private investors who offer loans based on real estate. Since they offer borrowers an option to prevent foreclosure and getting a loan is difficult, they have a strong appeal for borrowers who can’t get a soft money loan from a bank. These loans are unique, available for those who can’t meet [...]
Sometimes it’s not possible, or necessary, to pay for a real estate bargain from out of your own pocket. While real estate is a fantastic form of investment, it does require some capital to get the best deals at the right time. One way to get immediate cash without having to have the best credit [...]
A hard money loan (HML) is a loan backed by real estate collateral. Usually, a hard money loan will have a slightly higher interest rate due to a higher-than-typical accepted risk of default. HMLs are usually short-term loans offered by individuals and companies that are not banks. Many borrowers choose HMLs over other types of [...]
1. What is hard money and how does it work?
Hard Money is money for any type of real estate transaction that does not conform to traditional banking criteria. They are equity based loans in which borrowers credit score is not taken into consideration. It can be used for Residential, Commercial, Construction or Raw Land. The [...]
Once a separate nation, Texas has recently been behaving more like an independent economic republic than a regular state. While it hasn’t been immune to the problems plaguing the nation, the Texas housing market, employment rate, and overall economic growth are relatively strong. Chalk some of this up to accidents of geology and geography. But [...]
