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Conventional Banking Woes? Get Approved with Az Owner Occupied Money
After the Dodd-Frank, owner occupied hard money loans may be more difficult to acquire, but that does not mean that they are not out there. Talk to your hard money broker today to see the types of owner occupied hard money loans available to the public. After the last recession, the Dodd-Frank Wall Street Reform and Consumer Protection Act emerged. It delineated the federal stipulations for subprime and residential lending among other things. Curiously enough, it even began to regulate hard money lending, an area of private investment which previously had less federal regulations.
After the Dodd-Frank, Arizona hard money lending for those seeking residential and owner-occupied loans became more difficult and less common of a service offered. Today, typically, most hard money lenders deal with commercial lending on properties that are to be sold within a short-term period. Paperwork declaring commercial intent is sometimes even signed in conformation of this. So, why all the fuss about owner occupied hard money lending? This is due to the various documentational, disclosure, and closing restrictions needed to complete such a loan. However, while many hard money lenders have shirked off the tediousness of this process with all of its federal loopholes, other hard money ... more

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