private equity investors
Question
Where can I find a private hard money lender or investor?
was in a Chap. 13BK. Trustee & self saw escrows paid & assumed the other paid it as per BK regulations. Big lender snuck in & paid at last minute & now wants the money or will accelerate note. We were only given 10 day notice. CANNOT go std. route of financing due to lack of credit re-establisment. Willing to pay up to 12% on 12-36 mo. w/2nd DOT as collateral & then some if necessary. Have 80k min. equity in property. Borrowers have extreme upward mobility. PLEASE HELP. Tax time is near but that will be too late if you wait. IM is angels02_2006@yahoo.com. Have photos of property, home is in private subdivision. Guaranteed return on investment, stocks are not!
3 years ago - 6 answers
Best Answer
Chosen by Asker
The question for hard money is not "how much equity" it's "what is your equity as a percentage of the value?" Hard money will never go above 75% of the value of the property, so if your value is $320k, and have $80k equity, you're already at 75% and hard money won't touch it. If the value os $160k and you have 80k of equity, hard money will loan you up to $40k if you find the right one. Talk to brokers in your area about their hard money programs.
Source(s)
Loan Officer and Realtor in San Diego. Website www ...
3 years ago
Asker's Rating: 
Other Answers
Ask a property lawyer. You sound like you need one. Good luck.
by mld m- 3 years ago
Hard Money Lender will go up to 60 - 75 LTV Loan to value (the percent of the appraised value) if that is enough to get out, expect to pay a note rate of 16+ on interest. What state are you in?
by W. E- 3 years ago
Check out the website gierenterprises.com and call them. They helped me.
by ajgier- 3 years ago
I have worked on many foreclosure files and have seen various methods for curing/preventing the foreclosure. There are a few factors: 1) Forget about 12% in your current condition...private lenders are at about 16 - 18% for this type of loan. 2) The MAX they will loan on is 70% on the value of your home....if you are over 70% now they won't touch it. This means your home needs to be worth about 200-250K (considering what you have in equity). 3) I have 1 investor that will loan up to 90% but requires going on title (if this is in CAL). You can reach me at (949) 290 1795 if you would like to discuss the options. Tom Voli President GTO Financial
by tomvoli- 3 years ago