Hard Money Issues
Hello Everyone,
I am finally back and swinging, I have start buying homes through REO listings. The question here is that the hard money is seeming to go down the tubes. I just got back into this thing a month ago. Money is really getting tight here in Florida. I have 1 on the table and 7 in negotiation but the lenders are backing off. I have a hard money loan now that has taken 4 weeks and no takers yet. I thought hard money was just that... Hard money... well it looks like its getting harder! Any Ideas?
Thanks for the info, I am still purchasing at 48%-65% LTV. It looks as the terms of these loans are changing to higher point and/or more interest. But still HM lenders relunctant to lend that 65% and are wanting money down? HMMM sounds like a high interest conventiional and more qualifing as well. I am certainly looking for a better deal to make buying these properties faster.