If financing needs cannot be satisfied by an "institutional" loan due to qualifications falling slightly outside

underwriting guidelines

,

private lenders or "hard money" can be an option

. Circumstances when this might be applicable would include borrowers who have credit risk scores less than 500, yet still have remaining equity in excess of 30-50% after financing. The new loan is typically a second trust deed. A common condition for this combination to make sense for the borrower is when a very severe, but short-lived, hardship is experienced and new financing is perceived as a short-term remedy for the borrower. Perhaps using hard money or a private lender is the only way to make it through the aftermath and beyond to financial health. These examples are common in cases involving NODs and Chapter 13s.

The owners of One Touch Lending believe their client relationships are so important that Pete & Shawn often lend money out of their own pocket (literally their private checking account) to make clients' goals a reality. Yes, they earn a profit from this portion of their business, but they take on risk that most in the business would describe as excessive. They evaluate each private loan on a case-by-case basis to create the maximum benefit potential for their clients. We strongly urge you to find a mortgage company that facilitates both "institutional" loans and loans where the owners put their own funds at risk (and you pay them directly, not the company - these loans are never sold). We have never seen a company do both. We are sincerely doing anything we can to help a client's specific situation.

Talk to Kari Spry - we made private loans then institutional loans to make her dreams come true! Click here to see Kari's testimonial!