Hard Money Loans California – Hard Money Lenders California

Are you trying to apply for a Hard Money Loan in the state of California and can’t find any good Hard Money Lenders that can really help you with your situation?

Are you trying to refinance your real estate investment or trying to purchase foreclosures, REO(Real Estate Owned by the bank) or any other real estate property?

If you answered yes to both questions then you are looking for Hard Money Lenders. So here is what we can do for you.

First of all I would like you to understand that our Investors will lend money to real estate owners only in California state. We are a group of 5 Investors with enough money for almost any real estate investment you have, but your investment will have to be in southern California or Northern California.

Where We Lend most of our money?

Los Angeles County California | Ventura county California | Orange County California

What is the difference between Hard Money Loans and conventional Mortgage?

Conventional Mortgage:

1. You will deal with larger banks and corporations(example) Bank of America, Wells Fargo Bank, Citi Bank, etc.
2. You will have to qualify to their guidelines and requirements.
3. You will pay Loan origination fees
4. Mortgages are for long term- 10 years, 15 years and 30 years.
5. Mortgage rates move with index. These days you can get a mortgage rate anywhere between 4% to %7 depends on your situation.
6. If you purchase a property then you can put less money as a down payment.
7. If you refinance a property then your loan to value can be higher then 80% in some cases.
8. You can apply for a second mortgage or a line of credit mortgage.
9. Process of a conventional mortgage may take anywhere between 20 days to 45 days depends on your situation.
10. In most cases your credit will be making or braking the deal.

Hard Money Loan:

1. Quick turn around time. You can get the money within less then a week.
2. Decisions are being made by one or several private lenders, not big companies. In most cases you will deal with one person as your hard money lender.
3. Interest rates may vary. In most cases Interest rates are anywhere between 9% to 15% or sometimes higher depends on the situation.
4. Hard money lender don’t really care about your credit score or your income.
5. Hard money lenders care about your property. They want to see that the property have some money in it, in case you will defult on the payments they will get their money back.
6. Hard money lenders will lend you money for construction inside your property.
7. All Hard money loans are for short term. Most loans are anywhere between 6 months to 5 years.
8. Fees are higher then conventional mortgages. sometimes you can pay up to 7 points on a mortgage and in some cases you will pay only 3 points, but hard money loans are not cheap.

Conclusion:

Conventional mortgages and hard money loans are much different then one another. If you are in good standing with the banks, credit companies and have good income and money in the bank you don’t really need hard money lenders. If you have really bad credit and no one wants to lend you money then hard money lenders will be the only hope for you(that is why it cost more then conventional mortgage loans).

Why should you lend money from us and not from other hard money lenders out there?

We are not the best, but we do know what we are doing because we have been doing this for many years. We spacialise in one area(Sothern California and northern california), so we know the area very well and we will know almost everything about your neighborhood within seconds. It will help us make a decision within minuets and let you know if you will get money from us and whats are the terms or we will not lend you money.

Our competitors are doing the same thing like us for many years, but one of the main problems we have seen out there is that most hard money lenders trying to get big and think it will do good for them and their clients, but they’re wrong in most cases. Suddenly clients are just a number for them and neighborhoods/properties are just another page on google earth. Result, you will have to wait longer for answers and your actual money when it’s time to get it.

If you need a Hard money Loans anywhere in southern California(San Fernando valley | Los Angeles | Santa Monica | Marina Del Ray | Beverly Hills | Hollywood) Call us now and we will help you 310-619-5557

Mortgage Rates did help the housing market, by giving opportunity to many home buyers and home owners to get a lower mortgage rate. Yet many people in America will disagree with me, I really don’t think it helped Americans but heart them more then they even know.

I think that problems started when the mortgage rates went down and it start getting a little better when they start going up again. Why is my twisted mind believe that?

When mortgage rates went down, everyone was rushing to refinance their homes and/or purchasing a new home for investment or to live in. That was 2 years ago, right? Today these people are stuck with tenants that pay them low rent, higher then their mortgage payment. So they have got a great deal with low mortgage rates, but they still couldn’t afford it.

Also it effected the job market. Unemployment is huge this time, many people around the nation don’t have a job and some can not even get a job. I don’t blame only the low mortgage rates for that, but thinking about it, it does have something to do with each other.

Mortgage rates are low these days, but I really don’t think you need to refinance your home for a better mortgage rate. I think yu should wait a little more.

Yet that is me speaking.

The California Association of Realtors (C.A.R) is very disappointed at the findings of a survey that shows that banks are taking their time in finalizing short sale transactions, either because of the complexity of the process or due to a lack of interest in closing the deals at the proposed time by the federal guidelines to those financial institutions that accepted to be rescued as part of the $700- billion Wall Street bail out.

Nearly 74 percent of the respondents to the California Assn. of Realtors were “not satisfied” with the time it took to get an answer on weather the application was approved or not. Only 16 percent said they were “satisfied.”

California Association of Realtors President, Beth L. Peerce said that “It’s
disappointing that less than three in five short sales close, despite every effort by the REALTOR®, home seller and potential home buyer,” she added that “Many underwater homeowners who have been hit by the recent economic crisis can no longer afford to stay in their home and just need to sell their home as expeditiously as possible are unable to largely because of the complex and cumbersome short sale process,”

Many of the real estate transactions in the last few years in California have been Short Sales, this type of sale allows the homeowner to sale their home for less than what it’s owed to the bank, the bank of course has to approve the sale, and this is where part of the delay has been occurring. \

By HAFA standards , the Home Affordable Foreclosure Alternative, a program designed to helped troubled homeowners avoid foreclosure, introduced by the Treasury Department in 2009 and that went into effect in April 2010, banks have ten days to approve a short sale in cases where the lender has already decided on a selling price and 30 days if the selling price is proposed by the listing agent.

Because many lenders have already repaid the money lent to them as part of the Wall Street rescued, participation in HAFA is now voluntary.

According to the LA Times, The California Assn of Realtors has asked the
government to make banks legally bounded to complete all short sales transactions following the HAFA guidelines, the Treasury department through its spokesperson, Andrea Risotto, responded that the agency is working on its response to the California Assn of Realtors letter, but some of the requests, such as punishing banks for not meeting HAFA’s time frames, would require legislative action.

The study also shows that lenders took more than five business days to return
phone calls or e-mails. Most agents (63 percent) reported that lenders took more than 60 days to return a written response in regards to a decision of the agreement submitted.

“The survey results show that the short sale system is clearly flawed and must
be standardized and streamlined to reduce the inventory of foreclosures,” said Peerce. “Increasing the number of successful short sale transactions is one important way we can help California families avoid foreclosure and move our economy closer to recovery,” she added.

This article was written based on information published by the CAR and the L.A Times

MortgageFraud News by FraudBlogger.com

Mortgage News by MortgageDaily.com

“Our mobile commerce network, through relationships with merchants, will
provide an enhanced, more convenient, more personalized shopping experience for consumers, while mobile payments will be at the core of our offering, it is only the start. We plan to create a mobile wallet that ultimately eliminates the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes.”

For years, and with no extraordinary success, companies have being experimenting with a mobile paying system, but now the experts believe all the pieces of the puzzle there and 2011 could be the year that will change the way we shop. From making payments with our cell phone to checking balances and even accumulate rewards points from the different merchants.

Mobile payments is a multi billion dollar industry as referred to by Aite Group which projects that “mobile payments will account for US$214 billion in gross dollar volume by 2015, up from US$16 billion in 2010.”

Gwenn Bézard, research director with Aite Group and author of a report that
analyzes mobile payments, strongly believes that “firms missing the signs that the market is now rapidly shifting will be at a serious disadvantage in the next few years. Many organizations within the industry remain unaware that mobile payments are in a period of rapid transformation. Those that have any desire to play a role in this market must wake up now,” added Bézard.

Merchants must wake up as well as consumers, mobile paying is here, from now on the direction of our shopping habits is taking a different direction, the time is coming where we will be able to leave our house without a wallet, but that won’t happen in the blink of an eye. A whole new culture will have to be created.

2011 will definitely be a very exciting year. We will see all the main players
competing for a market hungry for technological novelties. At a time where
consumers only get to enjoy the latest technology gadget for a few months before a new version comes out, Mobile paying will also bring a new generation of mobile phones, with the latest technologies, usable not only to make phone calls, send text messages or play, the new phone will be where we will store our most private information.