Hard Money

Hi, I'm a newbie here. I started reading about hard money loans but the companies that i found on line asked that for appraisal of the property before they lend you 70% of its value. So does that work for a foreclosure. I also wanted to know your preferred hard money lender.

thank in advance,

Carlos

Comments(1)

  • tinman175530th April, 2004

    It will work on any property that you would buy. the appraisal always comes first. If you are buying a foreclosure at an auction and you don't win. You just lost your money. If a house is in foreclosure and you can get the bank to do a shortsale, then your chances of llosing the money for the appraisal are less likely.

    Good luck


    Lori
    [addsig]

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