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Hard Money Equity Loans
Bad credit borrowers should consider hard money home equity loans with private money financing for cash out, debt consolidation and mortgage refinancing. Sometimes in life situations arise that we cannot control and bills aren't paid on time and credit scores drop when you need them most.
If you have several reported late payments on your mortgage, then most conventional lenders will not approve you for cash out refinance or home equity loan. Hard money equity loans are needed when credit scores drop in the low 500 range.
Nationwide offers hard money second mortgages, equity loans and credit lines with private money financing for debt consolidation and refinancing.
According to the Administrative Office of the Courts, 2,078,415 bankruptcies were filed in 2005--the largest number of bankruptcy petitions in the history of the federal courts.
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Get Cash Quickly with Hard Money Equity Loans! |
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Do you need cash but currently have credit scores below 500?
Find out how much you can save each year by refinancing debt and converting the revolving interest into a fixed simple interest equity loan that will save you money.
Are you seeking some debt relief with lower payments from eliminating compounding interest? Nationwide Mortgage Loans provides home equity solutions to savvy borrowers looking to consolidate loans and pay off revolving credit cards.
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Fixed Home Equity Loans |
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Non-Prime Second Mortgages |
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Non-Conforming Home Equity |
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1st and 2nd Mortgage Consolidation |
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Fixed Rate Debt Refinancing |
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Tax Deductible Mortgage Interest |
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No Mortgage Insurance Ever! |
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Lowest Hard Money Rates Online |
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Hard Money Equity Loans: Understanding Bad Credit Loan Consolidation
By: Mary Stasiewicz
Hard money equity loans in the prevailing market are loans at a premium mortgage rate to the borrower in exchange for a "no red tape" 2nd mortgage loan. The lendee for whatever purpose they chose so long as the equity in the property or collateral provided is sufficient to cover the loan may use the money.
The term hard money loan initially meant a loan for hard cash. Today the term has been enhanced to cover loans for non-conventional loans such as investments, private funded loans, home equity loans and equity line of credit loans. Now it is possible to refinance your primary mortgage to get cash, consolidate debt and purchase investment properties instead of a taking out a purchase loan as a non-owner occupied investment property.
A maximum loan on property owned by the borrower is called a cash out loan. The borrower has a loan to value, which means the loan on the property, or collateral used is equal to the value of the property or collateral used to secure the loan. This type of loan has a higher interest rate than the "A paper" home equity loan that has a fixed rate around prime.
A home equity loan is one type of loan available for a hard-money loan. The Payment option negative ARM is another good 1st mortgage for investment properties if the borrower is looking for a short-term loan or if being self-employed has created some cash flow concerns.
- A clear precise description of the property
- Home Title to collateral
- Borrower must show expertise in the field the loan will be used in
- Mortgagor must accept all lender terms unconditionally
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