Waynesboro, VA hard money lenders have been operating out of the city of Waynesboro for years and years. It’s an independent city in this state (as all cities are independent in this state) and has a population of 20,000 people. This translates over to a population density of 1,300 people per square mile.
In this state, we’re finding that many borrowers aren’t able to keep up with their personal economics, and so as a consequence, throughout the state, the median credit score has actually dropped. What this has all meant to the economy is that there’s this huge mass of borrowers out there now that can’t get a loan. They can’t get a loan for school; they can’t get a loan ot buy a house, or to build a building.
All of these things don’t bode very well for the economy’s recovery. So what’s happening is that more and more borrowers are turning to Waynesboro, VA hard money lenders for these financial demands, requirements, and needs. These folks specialize in what’s commonly referred to as Waynesboro hard money. Hard money is a debt product; it’s a type of loan that isn’t approved based on a credit score. Instead, hard money lenders in Waynesboro evaluates real estate. Put another way: borrowers with bad credit scores can qualify for these loans, because real estate secures the loan (is put up as collateral). Real estate in this business is referred to as a hard asset, which is why they term these debt products, “loan hard money.”