Groveton, VA hard money lenders have been working out of this city for years and years. The city of Groveton is a part of the county of Fairfax in the state of Virginia. Groveton has a population of 25,000 people, and a population density of over 3,500 people per square mile.
In this state, borrowers are having a hard time keeping up with things. And as a result, we’ve seen the median credit score in this state drop. The situation’s produced a mass of borrowers that can’t get approved for a loan, which translates over to a few things that are all generally negative for the economy, e.g. homes can be bought, goods can’t be sold, etc. And so we’re finding that more and more borrowers are actually turning to so called Groveton, VA hard money lenders. These lenders focus on an area of finance that’s referred to casually as the Groveton hard money markets.
Here, loans are extended to folks that don’t necessarily have the best credit scores in the world. In fact, they actually cater to folks that have very distressed financials. They know these folks are down on their luck, and are just looking for a bit of a break. They’re able to get approved through these hard money lenders in Groveton because they don’t weigh as heavily the credit score. In fact, what they require over a good credit score, in order to offer the borrower broker hard money is a hard asset, i.e. real estate.