As the holidays are well upon us, many borrowers have asked: “can you close my loan by year end?”. The answer is yes. Fairivew is a private hard money lender that strictly lends their own money. Fairview has the ability to close loans quickly without the red tape. FAirview is actively looking to fund loans in Georgia, Illinois, and Colorado. We can fund both residential loans (in GA & CO only) as well as commercial loans. Call Fairview today to get your loan funded by year end.
There are a number of outfits advertising hard money lending. Fairview is unique since we strictly lend our own money and there are no upfront fees. We fund deals we commit on and close quickly. There are no upfront fees. Before selecting a private lender, it is recommended that you look at the “free guide to hard money lending” (http://www.fairviewlending.com/hardmoneylenders.htm) which provides hundreds of resources on private lending / hard money lending. Also please visit Colorado hard money (www.cohardmoney.com) to learn more about private loans in Denver and throughout Colorado and Georgia Hard Money(www.georgiahardmoney.com) to learn more about private loans in and around metro Atlanta
Fairview Lending (http://www.fairviewlending.com) is the leader in private lending in Colorado, Georgia and Illinois. We strictly lend our own money and there are never any upfront fees. We have recently updated a list of some of our recent hard money closings. This list should is indicative of the types of loans Fairview is currently closing. To learn more please visit: http://www.fairviewlending.com/recent_closings.htm. We look forward to funding your next hard money loan.
For Colorado and Denver hard money please visit: http://www.cohardmoney.com/closings.php
For Georgia and Atlanta hard money please visit: http://www.georgiahardmoney.com/closings.php
I commonly receive e-mails from other hard money lenders about their products and recent closings. Many of the e-mails I receive are a bit misleading. On Tuesday I received an e-mail from a “lender” based in the Midwest. This group showed a number of recent closings and stated they were a direct lender. Two days later I received a call from a principle at the same company asking if I was interested in investing with them. Long and short, these folks were actually brokers table funding deals and or brokering them to other real lenders. I found this realization fascinating since the average consumer would not know that they are dealing with a broker as opposed to a direct hard money lender.
Fairview is a direct hard money lender. We lend our own money, underwrite all deals in house, fund the loan, and then service the loan. There is no mystery with us since we are one of the most well known hard money lenders.
To see some of our recent closings please visit: www.fairviewlending.com
For Colorado Hard Money: www.cohardmoney.com
For Atlanta Hard Money: www.Georgiahardmoney.com
I just saw the existing home data for February (http://www.bloomberg.com/news/2011-03-21/u-s-february-existing-home-sales-fall-to-4-88-million-rate.html ). Sales of existing homes continues to slump. The foreclosure glut continues to drive prices down as well. There continue to be liquidity issues in the market which is further constraining new purchase transactions.
Fairview continues to lend on both residential (investment properties only) and commercial properties. We are strictly lending with our own funds and therefore have the flexibility to close transactions that other traditional lenders cannot. For more information on Colorado Lending please visit: www.cohardmoney.com , for Atlanta lending www.georgiahardmoney.com , and for Chicago lending: www. fairviewlending.com
There was an interesting article on CNN where Case/Shiller predicted a double dip in the housing market. What is leading this decline? In my opinion the number one driver right now is oil prices. Many of the hardest hit areas were “exurbs” for example in Atlanta metro: Lawrenceville would be considered an exurb. In the Denver market, Castle Rock would be considered and exurb. These areas were typically filled with newer homes and catered to borrowers moving up int he market. Many of these areas have seen the highest percent of foreclosures. The majority of folks that live in these areas commute to larger cities in order to work. As gas prices continue to move above three dollars they take a larger bite out of the family budget. This leads to a downward trend in prices as more people lose houses to foreclosure and new buyers are reluctant to relocate to the area since it will be too expensive to commute to their job.
Fairview is actively lending in Denver, Atlanta, and Chicago. We are a direct private lender that does not charge up front fees. No appraisals are required and we solely close loans with our own funds.
It appears real estate values continue to decline after the latest release of S&P/Case Shiller index. The majority of cities saw continued declines in values. So what is behind this decline
- increased interest rates: rates have recently come off the historic lows which limits borrowers purchasing power
- Continued tough underwriting standards by banks; banks have not gone back to the lax underwriting days and credit remains tight
- Influx of foreclosed houses: the recent stall in foreclosure due to document snafus has merely delayed the inevitable
- Continued uncertainty in the job market
The factors above in my opinion are the contributing factors in the continuing real estate market decline. I don’t think we are totally at the bottom yet either. For more information on the Denver market please visit www. cohardmoney.com and for the Atlanta market: www.georgiahardmoney.com
Hard money lending is not what it used to be. I recently published an article in the Scotman’s guide, a guide to private lending for mortgage professionals, that discussed the changes that have occurred in hard money lending. These changes have been substantial and include changes to underwriting, funding, servicing, etc.. To read the full article please see: http://www.fairviewlending.com/news/WeinbergCOM0211.pdf.
Fairview Lending is the leader in hard money / private money lending. They can lend on both residential properties (non owner occupied) and commercial properties in GA, CO, and IL. More information on Colorado hard money lending: www.cohardmoney.com; more info on Atlanta hard money: www.georgiahardmoney.com, and more information on Chicago hard money: www.fairviewlending.com/Chicago_Hard_Money.htm
Fairview Lending, the leader in Hard Money Lending, is pleased to announce the creation of a new page full of hard money resources for both the borrower and broker. This page contains article on hard money lending from National Publications, presentations given to lenders/brokers on hard money lending, and various articles on hard money lending and private lending. There are a number of must read articles for both borrowers and brokers. The information could save borrowers thousands of dollars of fees and other tricks used by other lenders. Fairview is the leader in hard money lending and private lending and is pleased to provide these valuable hard money resources to borrowers and brokers. More information can be found at: http://www.fairviewlending.com/hard-money-lending-resources.htm
Fairview Commercial Lending is the leader in Colorado Hard Money Lending. We have recently launched six new sites in our effort to effectively target the Colorado market: We have an office located in Denver, CO and can close your residential (investment properties) and commercial deals throughout the state of Colorado. As always there are no upfront fees or appraisals required. We are strictly lending our own money to fund Colorado Hard Money Loans.
- www.coloradoprivatelender.com
- www.COPrivateLending.com
- www.DenverHardMoneyLender.com
- www.DenverLending.net
- www.DenverPrivateLender.com
- www.ColoradoHardMoney.net
I don’t know how many folks are following the legislation, but there was an interesting article in the Wall Street Journal regarding the new legislation. Under the pending legislation banks would be required to maintain a “risk” portion of the loan for at least the first two years. Wells Fargo has proposed altering the legislation so that borrowers would put down 30% in order to not retain a risk portion for the bank and tie up their liquidity. This proposal poses serious issues for the housing market. If borrowers are required to put 30% down this will greatly reduce the value of properties most buyers can afford. This is definitely interesting legislation that all of us need to stay tuned to.
For information on hard money lending, hard money loans, and hard money lenders please visit www.fairviewlending.com. For information on Colorado hard money loans & Colorado private loans please visit: www.cohardmoney.com and for information on Atlanta hard money lending please visit: www.GeorgiaHardMoney.com. Fairview is the leader in hard money loans and private loans in Atlanta and throughout Colorado
Fairview Lending specializes in hard money lending / private lending in CO, GA, and IL. We actively watch real estate values in our key markets. There was a recent article on Bloomberg regarding the state of the housing market: Housing’s anemic rebound gives little boost to U.S. economy.
This is an interesting article that basically states that housing prices should begin to increase but at a very slow pace. I think we are in for the long haul on housing prices. With the foreclosure overhang, it could be years basically kicking around the bottom of the market. Substantial changes in employment will have to occur in order to stabilize the housing market. Unfortunately on the horizon, I see the employment looking weaker (especially in the public sector) which will put a lid on housing prices. If you disagree / agree, please leave a comment with your thoughts
For more information on the Denver real estate market: www.cohardmoney.com and for more information on the Atlanta real estate market: www.georgiahardmoney.com
Fairview Lending, a private hard money lender, has watched the case unfold regarding the securitization of mortgages and the subsequent foreclosure when the borrower does not pay. The full article can be found: http://www.bloomberg.com/news/2011-01-07/us-bancorp-wells-fargo-lose-pivotal-massachusetts-foreclosure-case.html
What was the importance of this case: The essence of the case was regarding whether the mortgage assignments were properly recorded and whether the bank could lawfully foreclose.
The essence of a mortgage or loan is that the borrower promises to repay a debt. In this case the borrower did not make payments and the bank started foreclosure proceedings. The foreclosure was overturned by the courts since supposedly the securitization documents were not complete.
This case is a huge loss for both banks and consumers. At the end of the day the borrower did not pay the mortgage. The borrower should not be able to stay in the property. The courts ruling is a terrible precedent and will raise borrowing costs for all consumers. From a logical standpoint, who cares who owns the mortgage; there is only one party claiming to own the mortgage and the borrower did not pay. If you make a promise to repay a loan and default, the bank must be able to enforce their rights or the entire essence of a mortgage is defeated
Fairview Lending (www.fairviewlending.com) has three upcoming articles in major publications focused on Hard Money Lending.
- Hard Money: The new paradigm: This will discuss the changes in hard money underwriting, what hard money deals are funding, and how to get a hard money deal closed in today’s economy. This will appear in the February addition of the Scotsman’s guide (www.scotsmanguide.com)
- The secrets of non-conventional lending: The article will focus on the requirements for non-conventional lenders; why borrowers need alternative financing, and the best use of hard money lending. This will appear in the January edition of the Colorado Real Estate Journal (www.crej.com)
- How to take an under performing property and turn it into a cash cow: This article will focus on the steps needed to take a dead property and increase its income quickly. This article will be published in the February edition of the Colorado Real Estate Journal (www.crej.com)
Fairview is the recognized leader in hard money lending and has been published in countless national publications. Fairview has created a hard money lending guide for borrowers/brokers and strives to educate others about hard money lending. Fairview has also created two sister sites to focus on specific hard money lending markets.
Colorado hard money lending blog: www.cohardmoney.com
Georgia hard money lending blog: www.georgiahardmoney.com