News! You Can Refinance and Consolidate Your Debt Again

If you want to refinance your home and consolidate debt, now it's the time. A group of private investors in Los Angeles California loan money to homeowners and real estate investors. These private investors also called hard money lenders are the bank.

Many of you tried to refinance with your local bank or a mortgage company in your area, but with no success. Now it's possible again, but you have to know the conditions to qualify. You don't need excellent credit score or great income documentation, but you do need a lot of equity in your property.

Hard money lenders have been around for a long time, but no body ever heard about them. Real estate investors and brokers were working with them for years, but homeowners didn't know they exist. Today for many of us hard money lenders are the only hope to get a real estate mortgage.

Where can you find a hard money lender?

Many mortgage brokers and real estate agents are already in contact with one or two investors because of the fact that they just need them. If you will go online and look for a hard money lender, you will probably find a 100 private investors or more. You don't need to get fanatic about it, you just need to know what they're talking about.

How do you know who is the right investor for you?

Normally of course you need to go with gut feeling, but in this case you need to be a little more careful then that. There are many hard money lenders that you don't want to work with. So what do you do? You ask questions. Here are some questions you will need to ask private investors when you call them:

1. The name of the company.
2. How long they've been in business.
3. Get some name of people they've worked with.
4. What are the interest rates they're offering?
5. How many points they charge you.
6. Do they charge any due diligence fees, or any money upfront?
7. Are there any other fees included?
8. You want everything in writing from them, it's very important.

You have to understand that you don't deal with big corporations. Hard money lenders are individual like you and me, but they have few millions dollars in their bank account. They would love to help you as long as you offer your real estate as collateral.