Jan

8

Federal regulators are requiring manufacturers to affix an explicit ‘danger’ label to portable generators in an effort to stem an upsurge of deaths from carbon monoxide poisoning.

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Jan

8

Read full story for latest details.

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Jan

8

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Jan

8

Home sellers looking to put their best foot forward in some tough housing markets would be well advised to bring their homes up to date.

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Jan

8

The Web is truly getting crowded with real estate web sites, each
trying to carve out its own niche. Reply.com has taken a
different approach. Rather than listings readers are invited to make an unsolicited offer on any property in which they
have an interest…

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Jan

8

Voila! Facing empty shelves, homeowners are skipping the collecting in favor of paying consultants for a quickly stocked cellar. Plus, a look at some of the services available to oenophiles.

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Jan

8

How to make the most of a ‘window of opportunity’ in 2007 to take advantage of lower mortgage interest rates and seller flexibility. Learn these five rules for house hunting amid declining prices.

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Jan

3

Hard Money

January 3, 2007 | Leave a Comment

Hard money refers to a loan made at a high interest rate. A hard money loan is typically taken by a borrower for speed or because the loan does not meet standard lending criteria.

 High risk hard money loans are risky to the investor because the default rate can be exceptionally high.

 Hard money loans are considered exceptionally risky to borrowers because they can place a property at risk.

Hard money loans are used successfully by invesors who sometimes will pay a higher rate in order to complete a fast real estate transaction, in which the profit can sometimes offset the cost of hard money.

Hard money should not be used when a borrower is in distress and cannot afford to make their regular mortgage payments. The only exception is when the borrower takes a short term hard money loan in order to bridge the time from when they are either in default or likely to default, until they close on a sale of the property.

 When there is a clear exit strategy, such as the planned sale of a property, or the certainty of a resumption of income, hard money can stave of problems such as foreclosure.

Hard money is not an ideal alternative for homeowners facing foreclosure.  Alternatives to hard money should be used such as restructuring and work outs with the existing lender should be sought if the existing interest rate is lower than the hard money loan would be.

For more tips on hard money alternatives, read our article Hard Money Avoidance.

 

 

Jan

2

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Jan

2

The Federal Reserve Board seldom giveth, but they did send home buyers
and owners as well as real estate professionals a bit of a holiday
present last week.

The Board in conjunction with the Office of Thrift Supervision issued
a revised version of its venerable Consumer Handbook on
Adjustable-Rate Mortgages (the CHARM booklet.)

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