Hard Money Investor Expectations - 01/30/10 10:49 AM
If you're looking into buying mortgage secured Hard Money Notes, or any type of Note for that matter make sure you receive as much information as possible.  When buying mortgage Notes you should require all of the information a conventional lender would expect, a recent property appraisal, full loan application (1003 is best), borrowers credit report, income documentation, title insurance commitment or policy, and all of the borrower's loan documentation, ie: Note, mortgage and disclosures.  Make sure you receive assignments for both the Note and the Mortgage, the later must be recorded.  The more information you have the more likely you'll be able to … (0 comments)

Detroit Hard Money Investment Note that's available for sale, short term bridge-loan 1st mortgage at 15.9%. - 01/24/10 05:08 PM
Metro Mortgage Investments LLC has a new 1st Mortgage Note available for sale.  We are a Michigan licensed mortgage lender, originating, processing, underwriting and selling short term investor bridge-loans on houses in and around Detroit, self-directed IRA's are welcome.  Our latest 1st mortgage Note that's available is $90,000, the house is 5,034 sq. ft., 4 bedrooms, 4.5 baths, 4 car garage, built in 2006 in a gated community and recently appraised for $195,000, that's 46% LTV on the CURRENT VALUE.  Along with our 1st mortgage our borrower brought in $73,000 cash to close on this purchase, middle credit score 700.
Due to … (0 comments)

Hard Money Lending Because I Need the Security of Real Estate! - 01/23/10 10:43 AM
Over the years I have received numerous calls from stock brokers and the like asking me to look into their latest and greatest.  My response has always been, "Truthfully, I don't invest in anything other than private hard money mortgages because that's my business, I've worked in hard money lending and real estate for the past 23 years and I understand it.  I use my Self-Directed IRA to purchase 1st Mortgage Notes and I'm not interested in putting my money into something that is not secured by a tangible asset and I require real estate."  Unless I hang up first, that's … (6 comments)

Diversify your portfolio with a Secured Investment - Hard Money Mortgage Notes - 01/03/10 06:21 PM
Hard Money 1st Mortgage Note, $30,000 bridge loan for a real estate investor, 13 month term, 46% LTV, 15.9% rate!  Please consider these details:
Here's the information on our latest 1st Mortgage Note. The loan amount is $30,000, the house appraised for $65,000 after-repair-value, that's 46% LTV.  Due to the lack of available lenders real estate investors are willing to pay higher rates, the rate to the Note buyer is 15.9% ($397.50 a month), term is 13 months and 3 points ($900) are paid back to you when funded.  Taxes are impounded with mortgage payments through the servicing company, servicing management is … (0 comments)

 
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Trent Dalrymple

Royal Oak, MI

More about me…

Metro Mortgage Investments LLC, Private Hard Money Lending

Address: 26711 Woodward Ave., Suite 301, Huntington Woods, MI, 48070

Office Phone: (248) 547-3006

Cell Phone: (248) 854-0625

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