Troy, OH Hard Money Lenders
What most people don’t realize about Troy, OH hard money lenders is that they operate on a primarily individual and private basis. These lenders work out of the Miami County in Ohio (not Florida), which has a population of about 35,000 folks that call Troy home. Troy is a part of the Dayton metro, and is actually the largest city in its county.
Troy, OH hard money lenders focus on lending to borrowers that seem to want to avoid having to be assessed on the basis of their credit score. Borrowers have all sorts of reasons and motivations for wanting to avoid this. For one, they could just have a terrible credit score. It doesn’t mean that they’re necessarily any riskier or less risky than the next borrower, it just means by the standards and measures of this proprietary way of assessing risk (which is basically a peer reporting system), there score is such. But lenders of this sort, of Troy hard money, the realize that this isn’t the end-all when it comes to risk assessment. That isn’t to say that hard money lenders in Troy are getting into huge, huge risks when they get into these deals: they are. It’s just that there ways to measure risk, and one way is to assess a borrower based on assets that he owns. In this case, “hard” assets, as in real estate property (homes, commercial spaces, etc.)
Almost always, what will happen is that an individual, private money lender will draft up the agreement between him and the borrower, almost completely from scratch.