You are equity rich and credit poor. This is a situation many florida homeowners find themselves in when they go to apply for a bank loan. They have scores in the 500s, charge-offs, or judgments that need to be cleared up. However, the bank turns them down. Many times the homeowners own a Florida owner-occupied or non-owner occupied property worth $200,000, $300,000, and up to $1,000,000 that is paid off free and clear. The bank however only uses credit, and credit scores and debt-to-income ratios. Sadly many of these good borrowers will be turned down.
As conventional banks become more cautious and conservative, investors can have greater difficulty in obtaining loans for real estate investments or improvements. Also, the recession in 2008 led to many smaller banks and lenders being absorbed into larger banking institutions. These factors don’t bode well for commercial real estate investors looking for prompt responses on financing. This is where hard money financing from AHL Hard Money Network can help.
If you have bad credit, all is not lost. You can still receive financial assistance through hard money lenders. For a guide to using hard money when you have bad credit, just continue reading.
Have you hit a rough patch and need support getting back on your feet? Loans provide financial stability to those in need. They are not always available to homeowners in a money crunch, however, and Florida’s owner-occupied properties have felt the heat. Luckily, there are resources available to help that you might not have known about before now.
Hard and private money sources act as a solution for Florida homeowners who are looking for a way to secure their funds, even if they don’t have credit or income. Florida owner-occupied hard and private money is a money source that is growing in popularity. So, if you’re seeking nontraditional funds, read on to learn more about hard and private money.
Homes go up and down in value, which is good and bad for homeowners. In instances where a home is worth more than the buyer paid, the homeowner can leverage their home equity when money is tight. Learn how to leverage your home equity by reading on.
*We do not issue approvals. We are a marketing and lead portal. You will be contacted directly by our private investors. They will call you directly to determine the value and equity in your home and to help you throughout the approval process. Each inquiry is on a case by case basis. Thank you.
