if it is hard money is it not to be standing on the real estate it self and not the persons credit ??

then why is it that every hard loan person i have spoken with in the last few days is more wantting to know my credit when i start on the road to getting a hard loan from them ??

and this is more important then the realestate that the loan will be for

my fico is 588 not bad but not good as well i have a tax lein from back when my ex wife and i had a bussines and i got stuck with the bill

but every person seams to be more worried about my credit then my realestate deal why if a hard money loan is to stand on the realestate

i have lost out on three deals that would have made me all the money i needed to pay off the tax bill as well as the hard money in two years tops

so i say if there is any true hard money people and loans out there i would like to talk with them soon as i keep comming across realestate deals all of the time late ly and would just like some one to help me make one real and in the procces make some money themselves !!!

please get hold of me if you have true hard money loans that stand on the real estate and not my credit thank you now for all your responses and help

To respond to your questions:

  1. All the hard money lenders I know have at least a nominal minimum credit score. Ours is 550. The reason is, we want our interest payments made on time, not the property back. Our experience shows that those with at least a moderate score are much more likely to pay interest on time and to complete the project and get it sold.

  2. We will not make a loan to anyone with an outstanding lien, judgment, or any other potential cloud on the title.

There may be lenders who do not have these rules, but I am not aware of them.

there is no lein on the title for the realestate it is alein if you will on my credit file so there would be no lein on the title that i can see

if iam wrong please correct me

Not sure about your state, but in most states, any lien, tax or judgment attaches to any real estate you try to sell.

Any competent title company or attorney can tell you the rules in your particular state.

A lien would have no use if it did not get attached to something.


Welow is right though, they do want to take a look at your credit because it will give them an insite to the likeliness of a default on the property.

There are hard money lenders out there that are not concerned about your credit score but will still pull a report. I have seen them done loans with below 500, no income, and no asset verifications.

With the lender mentioned above, the only thing on the credit report in which they will not work with someone is a Federal Tax Lien. I suspect that this is what you have since you referenced issues with a past business.

Let me ask, would the tax lien be something that you could payoff using the proceeds from your first invesment property. In other words, if there is enough room in the deal, the lender may consider fundng the transaction and paying off the lien at the same time. There may be no end profit to pocket but at least you’d have the lien taken care of. Although that may not be in your plan.

yes it would if you would like futher details or may be know a way or person who would work with me on this

I don’t know what state you are in but we do NOT pull a borrower’s credit on loans less than $350k. Even when we do pull the credit we are not looking at the score, rather then borrower’s ability to pay the interest payments on a $350k+ loan.

Every HML has different loan criteria. We are only looking to the property to secure the loan.