Friday, March 27, 2009

Ulimited Reo Funding

Look in the Real Estate Section under Classified section of your newspaper under Money to Loan. You will find dozens of advertisements for private money lenders. The rates they charge are almost insane. How does 18 percent sound with 10 points in fees. While these rates sound out of sight, keep in mind that it is the availablity of the money that counts more than the cost of borrowing it.
Many of these lenders are call hard money lenders. Most of them lend withou proof of income or a credit report.