hard-money

Robert and Yvonne Fassett used a hard-money loan last year to restructure their finances after a kitchen-cabinet distribution business they owned for 30 years suffered in the downturn, ruining their credit.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

Other borrowers seeking hard-money loans are self-employed individuals who can't fully document their incomes and people with low credit scores, whose mortgage applications these days are routinely rejected by banks.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

Across the nation, a number of mom-and-pop investors are pulling money out of their retirement accounts and safe, but low-yielding, savings to take on the risk of becoming "hard-money" mortgage lenders, who charge high interest rates to borrowers who have been rejected by traditional banks.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

But he says activity in that sector is up sharply from a few years ago, when very few hard-money loans were originated.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

"The hard-money loan is an interim loan," says Sophie Lapointe , a co-owner of Five Star Mortgage in Las Vegas, which doesn't do hard-money loans.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

Bess Hoffman became a hard-money mortgage lender to supplement her retirement income.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

We went from a hard-money regime, in which there were restrictions on the power of central banks and financial institutions to create money and credit, to one where money became purely paper.

The Vatican's Monetary Wisdom Robert A. Sirico 2011

Instead of rescinding these disastrous laws, Van Buren stubbornly stuck with the hard-money, antibank ideology of the Democratic Party.

Van Buren and Obama on the Banks 2011

Keith Borg , a 26-year-old Dallas accountant, has taken out two hard-money loans totaling nearly $200,000 with Longhorn III Investments LLC, a four-year-old, Dallas-based hard-money lender and brokerage.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011

Some critics compare hard-money lenders to predatory subprime lenders, lightly regulated operations that cater to people desperate for money.

Investors Who Do a Few Mortgages on the Side Dawn Wotapka 2011