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hard money: Detroit Private Money: Michigan High Court backs MERS - 11/19/11 08:31 PM
The Michigan Supreme Court has reversed an appeals court ruling that had cast doubt on thousands of home foreclosures across the state. The court said Wednesday that it’s legal for Mortgage Electronic Registration Systems (MERS) to foreclose by advertisement when a loan turns bad. Known as MERS, the company acts as an agent for lenders. In a 4-3 decision, the Supreme Court says MERS has an interest in the debt and acted properly under Michigan law. Needless to say, many Michigan homeowners who have been hoping to dodge their foreclosure through a possible MERS loophole will need to figure out their … (0 comments)
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hard money: Hard Money - Know your laws and regulations when lending! - 10/09/11 10:07 AM
I'm a member of several REIA (Real Estate Investor Association) groups in our area. Lately I've noticed the organizers giving attendees an opportunity to stand up and tell everyone what they're doing and what they're looking for in real estate and financing. Here's where individuals have to be careful with what they say to the audience. If you're going to speak to groups about financing you had better understand your limits especially if you're unlicensed.
First, ignorance of the law is no excuse so check your state's licensing laws and regulations, you should be able to find them on your state regulatory agency's … (2 comments)
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hard money: Michigan Hard Money - can't lend on tax sale property until... - 09/12/10 08:00 PM
The counties here in Michigan are putting up hundreds of properties for sale for back taxes. As in the past, our offices will begin receiving phone calls from buyers hoping our hard money loan programs can either finance the purchase of these properties or lend for repairs after the purchase. The problem is we can not lend on a property that has been purchased through a tax sale because title companies will not issue a title commitment until the the borrower has had the property go through a "quiet title" action for any possible unknown claims against the property. Property taxes may take priority over all other liens but there may be other issues that have … (5 comments)
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hard money: Is Hard Money filling the gap? - 08/26/09 05:18 PM
Before Sub-Prime lending was even a twinkle in the bank's president's eye the business was pretty much black and white, you either qualified or you had to find a Hard Money Lender. I listened in amazement when a borrower came into my office in the late ‘80's to tell me that an institutional lender agreed to fund what I considered a hard money loan scenario, and it actually closed. As this continually played out time after time all I could think was, these guys are getting into the hard money business but lending with an institutional mentality, the higher LTV's are … (1 comments)
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hard money: Detroit Hard Money for Purchase and Rehab of Residential Property - 12/14/08 06:31 PM
Hard Money for Detroit area Residential Investment Properties.
Perfect for Real Estate Investors buying bank-owned houses requiring rehab in Detroit.
House must be:
Brick
Minumum 3 bedrooms
Basement
Neighborhood must show Pride-of-Ownership
Borrower qualifications:
Minimum Credit Score 600 (case-by-case)
Provable Income
Must pay 10% towards closing costs
Qualify for a conventional refinance within 12 months
Loan Terms:
13 Month Interest Only Balloon Note
Maximim 50% LTV based on ARV (After-Repair-Value)
Minimum ARV $50,000
Maximum Loan Amount $100,000 (case-by-case)
Call for details (877) 854-0602 ask for Trent Dalrymple, Director-Investor Relations, Metro Mortgage Investments LLC.
More Information at: www.HardMoneyMi.com
… (0 comments)
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hard money: Think Detroit REO's! - 01/26/08 10:15 PM
Looking for the deals for real estate investments, think Detroit! Where else can you purchase a property for less than a used car? If you know what you're buying and have an agent looking in the right places you can buy for under $20,000, put about $10,000 into repairs and have a house worth up to $80,000 or more. And the rents, typically $800 to $900 a month for a 3 bedroom bungalow, a great return on your investment. How do I know? I see it every day in my business. I work for Metro Mortgage Investments, LLC, a private (hard money) … (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
Email Me
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