SUBMIT A LOAN

Why You Should Consider a Deed in Lieu of Foreclosure?

2021-11-13T20:45:54-08:00Private Money Lending|

A Deed in Lieu of Foreclosure ("DIL") is a deed instrument that satisfies a loan, presenting a unique opportunity to avoid foreclosure and still satisfy both Lender and borrower. In this system, the borrower conveys all the interest in the property being secured to [...]

Can Private Money Fuel the Recovery Once Again?

2021-11-13T20:21:37-08:00Timely|

Disasters such as the COVID-19 pandemic are often unplanned events whose impacts on the economy remain sustained even after they are gone. However, in periods such as that of the pandemic similar to the Great Recession of 2007, institutional lenders have been observed over [...]

What Private Lenders Need to Know About Hard Money Loans?

2021-11-13T20:26:24-08:00Private Money Lending|

A hard money loan is a secured loan backed by real estate. They are often regarded as "loans of last resort" or "bridge loans." This is because these loans are typically employed in real estate transactions, and the lenders are usually individuals or businesses [...]

The Do’s and Don’ts in Drafting and Enforcing Personal Guarantees on Real Estate Loans

2021-11-13T19:34:57-08:00Private Money Lending|

Personal guarantees are legally binding agreements where an entity (the guarantor) enters into a contract to be responsible for another entity (the guaranteed) in a matter where the guarantor is a non-party. This kind of agreement usually occurs in debt situations, and it is [...]

Complying with California Threshold and Multi-Lender Broker Reporting Requirements

2021-11-13T19:22:20-08:00Private Money Lending|

Violations in the compliance of California's Threshold and Multi-Lender Broker reporting requirements are very common, largely due to the confusing nature of those requirements. Thus, as a mortgage broker in California, it is important to have some guide or a road map to help [...]

Must California Lenders Pay Interest on Insurance Proceeds?

2021-11-13T19:17:56-08:00Private Money Lending|

Simple, no! This question was engendered as a result of the clients' continual demand for interest on "hazard insurance proceeds" in escrow accounts. They based their claims on the fact that California, like 16 other states, demand lenders pay interest on mortgage loan's escrow [...]

A “Wyatt” Standard for Insurance Brokers?

2021-11-13T17:59:25-08:00Private Money Lending|

For brokers or hard money lenders, there are lessons to learn. This dates back to 1966, when Joseph and Clarice Wyatt walked into Union Home Mortgage's office to borrow $2,500. What they didn't know is that the loan, and the lawsuit that would ensue [...]

Buying and Selling Notes – What is the Current Property Value?

2021-12-19T20:01:28-08:00Archives|

One of the considerations when buying and selling mortgage notes is knowing the current value of the home. After all, the property is the collateral, and knowing its true value will greatly affect how much an investor will pay for a note. Historically, this [...]

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