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Kent, OH Hard Money Lenders

August 6th, 2010 Comments Off on Kent, OH Hard Money Lenders Posted in Ohio Cities

Kent, OH hard money lenders have been doing business in this area for years. Kent is actually a sort of informal, unincorporated community in the county of Portage in the state of Ohio. The county of Portage itself has a population of almost 28,000 people.

In this area, borrowers have been having a hard time getting approved for a loan, and the reason is that, for one, lenders are simply refusing to lend as they used to. We’re not exactly in the midst of the sub primer heyday anymore. These days, you’d be lucky to get in the door with a 750 credit score. But the fact of the matter is, hardly anybody has anything close to that these days. As we all know, the measures and methods used to calculate the credit score floats and changes; it’s almost as if it’s arbitrary.

And if you don’t have a high credit score, but need to take out a loan, you’ll need to refer to one of the Kent, OH hard money lenders in your area. These lenders make it their prime objective to put together loans that borrowers of any risk class can get approved for. They’re doing this through a method of finance called Kent hard money. With hard money, you could have a low credit score, you could even be facing foreclosure on your house for all these hard money lenders in Kent care, but for as long as you own property (i.e. real estate), you’ll be able to get approved for a loan through these commercial mortgage brokers.

East Cleveland, OH Hard Money Lenders

July 17th, 2010 1 Comment   Posted in Ohio Cities

East Cleveland, OH hard money lenders have been working out of this city for years. The city has a population of about 25,000 to 30,000, and is in the county of Cuyahoga. The city’s encompassed by the cit of Cleveland proper.

East Cleveland, OH hard money lenders have been working in this Ohioan city for years. And the thing about their business there, is that borrowers are happy about the fact that they don’t have to report their credit scores in order to utilize these debt products. All that’s needed is real estate. Let’s get into this a bit.

Think of East Cleveland hard money in the same way that you view a credit card. Only this isn’t a regular credit card, it’s a secured credit card. What does this mean? Well, it means that a line of credit, or rather a loan, will be extended to you, but you’ll have to back the loan with an asset. In the case of hard money lenders in East Cleveland what you’re going to have to back the asset with is a “hard asset”, as in real estate. See, this is still a loan product, it’s not a mortgage, but a loan product, but the thing is, it has to be secured. Without this backing, you will not be able to do business with a hard lender. But, if you can furnish some collateral, some real estate, you’re golden. Because you won’t have to get into issues about your low credit score. To the hard commercial loan broker, your real estate is your credit score.

Dublin, OH Hard Money Lenders

July 17th, 2010 1 Comment   Posted in Ohio Cities

Dublin, OH hard money lenders have been operating in the Union County of Ohio for years and years. And in fact, what’s been happening is that the borrowers there are slowly developing the idea that these Dublin, OH hard money lenders should and could be considered a lender of choice, a financing avenue of first resort, rather than last. Dublin’s a city of about forty two thousand people, but if you count the school district’s area, that population edges up a bit to about fifty five thousand people. The city’s motto was recently crafted, which is: “Where Yesterday Meets Tomorrow.”

Dublin hard money is a matter of finance, and folks in Dublin take financial matters seriously. You won’t be able to get very many people on the streets of Dublin that are going to tell you that they’d rather work with a big bank lender than one of the many hard money lenders in Dublin that operate there in this quaint Ohio town.

Borrowers in Dublin prefer working with these lenders, primarily because they’re able to bypass credit scores and checks through these avenues. See, these loans, they work like secured credit cards. When you take out a debt load, through a secured credit card holder, what you do is you secure the credit line with an asset, i.e. cash. Same thing with hard money. Lenders are able to bypass the credit stuff, by insisting that the borrower secures the loan with real estate. When this happens, the private mortgage loans can be opened up to the borrower.

Elyria, OH Hard Money Lenders

July 17th, 2010 Comments Off on Elyria, OH Hard Money Lenders Posted in Ohio Cities

Since this Lorain County city was founded, Elyria, OH hard money lenders have been there, serving the various and varying demands of borrowers in this quaint town. The town has a population of about 63,000, and it’s located just north of the Black River.

Elyria, OH hard money lenders are doing well here, for a few reasons. One is that borrowers here, the average borrower anyway, is relatively more sophisticated than what you’d expect and actually find in other cities of this class and size throughout the United States. A number of private individuals in this Ohioan county and metro area specialize in doing a Elyria hard money deal here and there, and actually have rather prominent jobs as professionals in the Elyria community.

And though hard money lenders in Elyria may not be the first group of lenders borrowers in the rest of the country might think of when they want to rehab a particular building, these lenders are doing something about this reputation. They’re going out of their way to catch borrowers up on the technicalities of the deals that they’re putting together, in order to give the borrower a better position from which to bargain about the agreement’s terms, the agreement between the borrower and the lender himself. This sort of relationship between lender and borrower is actually unheard of in most big banks, but it is a rather huge, large draw to these lenders. You’d be surprised by how many borrowers remark about the customization and the personalization that they experience and are able to realize through these hard rehab loans.

Euclid, OH Hard Money Lenders

July 17th, 2010 Comments Off on Euclid, OH Hard Money Lenders Posted in Ohio Cities

On the northern most point of Ohio, Euclid, OH hard money lenders are operating in the county of Cuyahoga, which is actually a part of the Greater Cleveland metro area. The population of Euclid is at about 55,000 folks, and the thing about this lot of Ohioans is that they know a thing or two about finance.

Euclid, OH hard money lenders are a bit like card issuers, you can say. You know, credit cards. Everybody knows how a credit card works. You apply for the credit card, and you get a line of credit extended to you. Fine. Simple. Straightforward. But Euclid hard money isn’t just like any credit card, they’re like a particular set of credit cards. The secured credit card. What’s the difference? Well the difference is that a secured credit card requires some sort of down payment to serve as collateral to the line of credit. The down payment usually equates to what your line of credit will be. So you might put down $300, then the credit issuer will in turn issue a $300 line of credit. That’s sort of like how hard money lenders in Euclid work. Except they’re not issuing credit cards. They’re issuing cash. As in loans. And instead of cash as a down payment, what they’re taking as collateral is real estate. So whatever your real estate’s worth, you’ll be extended a loan in the commensurate amount. That’s the real hitch, is the real estate, which you’ll need to get qualified by the construction loan lenders.

Fairfield, OH Hard Money Lenders

July 17th, 2010 2 Comments   Posted in Ohio Cities

Fairfield, OH hard money lenders have been working in the Butler and Hamilton counties for years and years, at this point. These counties are in the state of Ohio, and are a part of the Hamilton metro area. The city of Fairfiled itself has a population of about 45,000.

Fairfield, OH hard money lenders do something very similar to what secured card issuers actually do. And what do secured card issuers do? Well, they extend lines of credit, like regular credit card issuers do. But they don’t extend credit to just anybody. But also, they don’t check credit scores. Secured card issuers don’t really care about credit scores. What they do care about, though, is the down payment. The cash that will be deposited and put up as collateral, which will be used by the card holder in order to “secure” the card debt.

Now, this is awfully similar to Fairfield hard money. It’s similar in a variety of ways. First of all, hard money lenders in Fairfield are like secured card issuers in that they issue loans, only to borrowers that are able to secure the loan with a piece of real estate. See, these hard lenders will really only take collateral in the way of real estate, in other words, “hard” assets. Without real estate, borrowers will not be able to move forward with any of these hard lenders. The lender will typically issue a loan, after the real estate is qualified and credentialed, with regards to private mortgage lending.

Findlay, OH Hard Money Lenders

July 17th, 2010 2 Comments   Posted in Ohio Cities

Findlay, OH hard money lenders have been operating in Ohio for years. It’s a city of about 40,000 people. Findlay has a population density of 2,200 people per square mile, and is located toward the northern, more western region of the state of Ohio. Findlay is a part of the Hancock county, and has a nickname of “Flag City.”

Findlay, OH hard money lenders operate and provide a very important service to the economy of the state of Ohio: Findlay hard money. But what is hard money, and how does this help the state of Ohio? Well, like other states and cities, Ohio and Findlay have been rattled and rocked quite well by the recession that’s swept over the United States. And in that whole process and sweep of things, borrowers’ credit scores have dropped precipitously. The problem, now, is that borrowers have financing demands, but they aren’t able to get financed through loans at the bigger banks, solely because of the reason that their credit scores have dropped.

Well, also, bigger banks have also tightened up on their lending policies as well. So then, there are hard money lenders in Findlay. They’re able to loan out to borrowers with bad credit, because they don’t weigh or consider credit scores as heavily as they do collateral. Hard lenders are a lot like secured credit cards. They will finance or extend a loan to a borrower with bad credit, for as long as they’re able to secure the loan with real estate, which is a prerequisite to private mortgages.

Fairborn, OH Hard Money Lenders

July 17th, 2010 Comments Off on Fairborn, OH Hard Money Lenders Posted in Ohio Cities

Fairborn, OH hard money lenders are situated in the county of Greene, which is located in the southern, more western part of the state of Ohio (though it doesn’t straddle a border or anything). The Fairborn city itself has a population of about 35,000 to 37,000 people.

Fairborn, OH hard money lenders, you can think of them like secured credit card issuers. You know what credit cards are for sure. But secured credit cards, not very many people are up to speed about. Secured credit cards are just like credit cards, except that they require a down payment. What’s the down payment for? Well, it does a few things. For one, it allows the credit issuer to extend a line of credit to you without running your credit score. That’s one huge point.

Another big point is that it secures your loan. In other words, it serves as a sort of collateral to your line of credit. This is a very apt analogy to illustrate what Fairborn hard money really is. In many ways, these hard money lenders in Fairborn are a lot like secured card issuers. They will loan you the money, for as long as you’re able to secure the loan somehow. And there’s one more hitch. You’ll need to back the loan up with a specific type of asset, a “hard” asset, which will be real estate. This sort of thing will vary, as far as how the lender will qualify the real estate, and what property’s going to be acceptable or not, in terms of a commercial construction loan.

Hilliard, OH Hard Money Lenders

July 17th, 2010 1 Comment   Posted in Ohio Cities

Hilliard, OH hard money lenders operate out of the Franklin County in the state of Ohio. The city of Hilliard has a population of about 25,000 people to 27,000 people. Hilliard has a population density of about 2,100 people per square mile. The city is located in the central region of the state of Ohio.

But how are Hilliard, OH hard money lenders able to provide loans to borrowers with such low credit scores? Well, let’s look into what a credit score is. It’s a statistical likelihood that a borrower will default on a future or present obligation. It’s based on a number of reports that businesses and creditors issue to a credit agency or bureau. It’s best to think of Hilliard hard money as being something similar to a secured credit card, except for the fact that we’re talking about loans, and not a line of credit (which rolls and is recurring).

Like a secured credit card, hard money lenders in Hilliard will require that the borrower secure the loan somehow, some way. And that some how and someway is by real estate. Put another way: borrowers with low credit scores can take out loans by putting their homes up as collateral (or any other real estate that they have equity in). When they do this, like is the case of the secured credit card issuer and its borrowers, the collateral goes into the hands of the lender, and cannot typically be used as collateral anywhere else to achieve commercial loan rates elsewhere.

Hamilton, OH Hard Money Lenders

July 17th, 2010 2 Comments   Posted in Ohio Cities

In the state of Ohio, Hamilton, OH hard money lenders have been hard at work, putting in the time to extend loans to borrowers with very low credit scores. Hamilton is a city that is a part of the Butler County, and is considered a part of the Cincinnati Metro Area. Hamilton has a population of about 61,000 to 63,000 people, and also has a population density of about 2,800 people per square mile.

Hamilton, OH hard money lenders are able to extend loans to people with very low credit scores, because of how Hamilton hard money works. It’s easier to think of hard money as something along the lines of a secured loan, than a regular loan. This is because hard money lenders in Hamilton will require any of its borrowers to secure the loan with something that they’re able to put up as collateral.

But the thing is, there is only one thing that these lenders will accept as collateral, and that’s real estate. Real estate is why these loans and lenders are referred to as “hard,” as in hard asset (as opposed to an intangible asset, like intellectual property, copyrights, etc.). The problem for most folks is that they have low credit scores and they don’t have very much equity in their homes or other properties that might be in their name. But lenders out there, hard lenders, will vary on the finer details, so it pays to inquire with one in your area about how these hard money loans in Ohio work within their particular organization.

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