==== ====Check out the link below for more resources:http://hardmoney.toufangle.com==== ====What is a Hard Money Lender?A ...
ohio area and here you can get the contact numbers of various people for this purpose and whocan then further lead you to ...
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Hard Money Lenders in Cleveland Ohio Area

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Hard money lenders for real estates. The best way to find money for your real estate projects.

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Hard Money Lenders in Cleveland Ohio Area

  1. 1. ==== ====Check out the link below for more resources:http://hardmoney.toufangle.com==== ====What is a Hard Money Lender?A Hard Money lender is an individual or a small company who lends to individuals with specialneeds to purchase their homes. These money lenders lend to those individuals who would find itdifficult to get a home loan elsewhere. Hard money lenders will normally lend at a significantlyhigher interest rate and would normally lend money only when they feel that there is enough equityin the house which if the debtor defaults can be sold and recover the loans.That sounds scaryHard money lenders in Cleveland Ohio area are not loan sharks so you dont need to worry aboutbroken bones if you end up defaulting. These are just shrewd individuals who are filling in a gapwhich exists currently in the home loan industry. For instance traditional home loan lenders arewary of giving loans in a remote place say building a cabin near the Yosemite National park, this iswhere the Hard Money lender will step in.Having said that, the interest rate will be quite steep, most probably in double digits and theywould require around 40-50% equity of your own so that if it comes to foreclosure their part of themoney is safe and they can recover it.A few tips on finding the Hard Money LendersHard Money lenders are normally difficult to find and if you use these tips it will help you to locatethem:They look to operate within a given geographic distance so that they can check out the propertythemselves and make sure. So if you want to look for hard money lenders in cleveland ohio area,you should look up the local classifieds and look for listings like "Trouble Finding a loan? Call us,Private Money Available"You can call up the mortgage brokers in and around the Ohio area and ask if they have anycontacts of private investors who will be willing to put up money.You can look up the web and you will find links to various sites which will point you towards hardmoney lenders. For instance loans-only.com or REIclub are websites which purely has listing ofHard money lenders where you can seek out hard money lenders in Cleveland Ohio area.L2P Network looks like a starting point for anyone looking for hard money lenders in cleveland
  2. 2. ohio area and here you can get the contact numbers of various people for this purpose and whocan then further lead you to the right people once they understand exactly what it is you arelooking for.Mercury Capital and Kennedy Capital are two other sources if you require funds greater than amillion dollars. They have hard money loans which cover the entire country including Ohio.Spread the word around and look out for middle men. Normally one is advised to avoid middlemen but in this case it is better as they are actively seeking people who have money to invest andpeople who need money to loan out and may be able to help you out albeit a commission.Is there anything I should be careful about?One is you should be careful of some guys who will try to trick you into some sort of a deal wherein it becomes very difficult for you to pay and you end up in foreclosure. A good idea is to keep inmind that you should have 35% of the property as equity in order to take care of the 12% - 18%that is normally charged on these loans.Second is you must be careful about the repayment and at the first sign of trouble you shouldcontact your lender and try and sort out a deal to avoid foreclosure.Author - Bill Darken - Theres a good student loan area along with more relevant general loansassistance such as home, car, and consolidation loans. There are highly informative eye openingarticles and up-to-date loans news as well, see it here at hard money lenders or if the previous linkis not working, you can paste this link in your browser - loans-only.com.Article Source:http://EzineArticles.com/?expert=Bill_Darken==== ====Check out the link below for more resources:http://hardmoney.toufangle.com==== ====

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