Sherwood, OR hard money lenders have been working and operating out of the state of Oregon for years. Sherwood is a part of the county of Washington, and has a population of over 17,000 people. Sherwood has a population density of about 4,000 people, and was founded in the early 1890s.
Borrowers are facing a hard challenge these days; they’re not able to get approved for a loan, which is having really bad ripple effects throughout the entire economy here, and so what’s happening is that we’re seeing more and more Sherwood, OR hard money lenders step in, finding these borrowers with low credit scores, for example, borrowers that are facing foreclosure, as another example, to help these borrowers out. Now they’re able to help out through a form of finance that’s referred to as Sherwood hard money. Hard money is a good form of financial leverage to use as a lender, when a borrower isn’t able to meet critical credit score criteria, as stipulated by best lender practices.
The issue is, for the lender, how to protect himself against the obvious risks of a borrower that has really bad credit. Well, the answer to that is real estate, or what hard money lenders in Sherwood refer to as a hard asset. With a hard asset, you’ll be able to put together a loan arrangement with the property serving as the sort of anchor to that loan. These private lender loans will not be able to do a deal without real estate, though.