Can banks that turn down a loan refer customers to hard money lenders? Are there any banks with hard money lending departments?
"Hard money" financing describes loans made against the quick sale value of a piece of real estate, usually to borrowers who don't qualify for traditional loans, either because their own marginal credit or because of the nature of the collateral offered. We are not aware of any banks that themselves operate hard money lending departments.
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"Hard money" financing describes loans made against the quick sale value of a piece of real estate, usually to borrowers who don't qualify for traditional loans, either because their own marginal credit or because of the nature of the collateral offered. We are not aware of any banks that themselves operate hard money lending departments.
