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.