You’ve seen the headlines and heard the television reports, but are you familiar with the reality?
The reality to which I’m referring is the one whereby banks and traditional lending institutions have basically ceased financing for borrowers, who are more than capable of carrying a mortgage payment.
In today’s lending environment, even borrowers, who carry high credit scores and are flush with cash, are looked upon as suspect by mortgage underwriters. Those of us putting high quality deals together are left scratching our heads as to why.
The simple fact is financing has become a major problem with closing real estate transactions in today’s market. This is especially true for those who are self-employed, or for those who have been through a short sale.
But the good news is… now there is help!
Don’t let a short sale or some other financial setback keep you from inquiring as to other financing options. Sure, perhaps a bank or traditional lender may not give you a yes. However, the private lending or investor option is more viable now than ever before!
And… it may be just what you need.
Coldwell Banker Trails And Paths, a real property brokerage, located in the Las Sendas area, has been working hard to put buyers together with investors. Specifically, they have designed a program whereby a qualified buyer, who may have been through a short sale, gone through a divorce, or is self-employed, can get financing on a home purchase by working with one of their investors willing to lend private money on the deal!
No more dealing with mortgage underwriters half a world away that may or may not understand or even care about your circumstances. Now, through Trails And Paths, if you have undergone a short sale or are self-employed, you, too, can gain access to financing using private money available through one of the investors working with Ron Brown and his team at Coldwell Banker Trails And Paths.
Having the private lending option changes the financing game tremendously by eliminating the need for a borrower to meet traditional requirements. By working with an investor, your financing can be structured in such a way that moving forward is based primarily on whether or not the risk/return ratio makes sense for the investor and the payments make sense for you. Credit history and your type of employment carry less weight than with traditional lending institutions bound by the policies and procedures of seven layers of management.
If you’d like to know more, contact Ron Brown at Coldwell Banker Trails And Paths, and ask him if private lending is right for your situation. He can be reached at (480) 355-4700.