In 2018, approximately 2.65 million home loans were denied a mortgage loan, which equated to a 24.7% denial rate, per CoreLogic. Many of these borrowers are ideal candidates for private or non-QM mortgage money. While home improvement loans were denied at the highest rate, rate and term refis and cash out refis also exhibited high denial rates, all […]
35 Strategies to Grow your Business
I found a great article to help real estate and mortgage salespeople to maximize their income potential with the best of today’s marketing strategies. The article was written by Megan Marrs, and offers 35 strategies to grow your business through great marketing ideas. Set Yourself Up For Social. Make sure you have social media accounts […]
WHEN TO USE A PRIVATE HARD MONEY LENDER
Despite calls to modify the Dodd-Frank business regulations, conventional lenders have continued with very stringent underwriting requirements that prohibit many good borrowers from being able to borrower the mortgage money they need. A private hard money mortgage loan is a great alternative to the conventional lending sources. Sometimes, borrowers do not meet the bank’s minimum […]
Reasons a Hard Money Loan Request Would Be Denied
Hard Money Loans are much easier to obtain than conventional bank loans. The approval process for a sHard Money Loan can take sometimes as little as a day and funding can be completed within a week or two, if approved. Whereas, funding for bank loans generally takes 30-45 days or more, upon approval. Hard Money Lenders are able to […]
Getting The Most From Your IRA
IRA investors’ interest in real estate has increased dramatically recently, due to the volatility of the stock market. The sharp declines in the marketplace have prompted investors to look for ways to diversify their IRA investment risk. The key to self-direction is the flexibility to place any legal investment in your IRA. Providing private mortgages […]
Trust Deed Versus Stock Market
1. A stock’s value fluctuates constantly. A trust deed’s value is always fixed and stable. 2. A stock is typically backed up by a conglomerate of equipment, property or services, sometimes outside the US. A trust deed is collateralized by real estate within the US, most often by homes or property within the investor’s local […]
Preparing A File For Submission
If you are planning to send me a file to review, it is important to create a favorable scenario for the investor. Of course, you are advocating for the borrower, but there must be a win-win philosophy to ensure the investor is satisfied. Keep in mind the five major criteria investors seek when making private […]
