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Ray
Home Buyer
48193

where to get hard money with bad credit?

Thu Jun 26 2008, 15:15 - 48193 - Financing - 1 answer

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FIRST: Deep River

Deep River
Real Estate Pro
Daytona Beach

Thu Jun 26 2008, 15:28

FIRST ANSWER

A local mortgage broker will almost certainly have lending sources for you... if that is your only resource. "Hard Money" is based strictly on equity and is offered by individual investors as well as specialty lenders.

If you don't have a trusted person to recommend a mortgage broker, you can do two things.

First, if you are buying a home, ask your Realtor for a recommendation. Any Realtor who has been in business for a while will have 2 or 3 folks to recommend based on a solid track record of prior performance with the Realtor's clients.

Second, contact your state's Mortgage Broker Association. I've attached the link for Michigan below. Most bona fide brokers will be members (but not always), and most members will be trustworthy (but not always).

Web Reference: http://www.mmbaonline.com/

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