subprime: Subprime? Why Not? - 09/29/16 07:21 AM
Sub-prime lending is a much better option than Private or Hard money lending - if you qualify.
For a few years, I stopped doing conventional lending and switched to Hard and Private money lending. Hard money is hard cash. It requires 35% down, demands repayment within 6 to 12 months and rates can be pretty high (as high as 18%)! Private money may require less money down (maybe 20%), repayment may be 30 years and rates are usually around 8-12%. However, Private money is hard to find these days with the government making it harder for private people to lend money on primary … (1 comments)

subprime: Sub-Prime Making a Comeback...Sort Of - 05/11/16 03:20 AM
What is Sub-prime loan? Sub-prime loans were programs available between 1992 and 2007 that allowed buyers and homeowners the ability to qualify for a loan when faced with credit, income or asset issues. People who worked in the industry during those times will remember the acronyms NINA (No Income/No Assets), SISA (Stated Income/Stated Assets), NISA (No Income/Stated Assets) or the term No Doc loans (No Income, No Assets, No Employment, No money down). The catch phrase was, “If you can fog up a mirror, you can get a loan”.
 
What happened to Sub-prime loans? There are a lot of conspiracy theories as … (0 comments)

 
Bill Polack, Bilingual Spanish Loan Officer in Southeast US. (First Option Mortgage)

Bill Polack

Bilingual Spanish Loan Officer in Southeast US.

Suwanee, GA

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First Option Mortgage

Mobile: (404) 644 - 3295

Office: (404) 644 - 3295

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