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Hard Money Loans Use a Different Criteria and Perspective - 5.28.2012

By
Mortgage and Lending with Source Capital Funding, Inc.

 

Thank you to all who have served and those that continue to serve.


Today is Memorial Day, so although I wrote about it on Friday, I want to again acknowledge this important day of remembrance. I hope all are enjoying the day. I am looking forward to going to a barbecue at my neighbor’s house later on. Time with family and friends can be wonderful, especially when we all get along. However, just as in war, sometimes we don’t see eye to eye.

Right now I am in a situation that would be easiest if all involved were on the same page. But the reality is, we are not. I see both sides. We both make valid points. It may sound odd, but in actuality neither one of us is fully right or wrong. It simply depends on your perspective. I am basing my argument on the physical and emotional well being of a person. My “opponent” is basing their stance on the availability of finances.

At this point I have to just let things play themselves out. I do hope that what I want to happen will be the end result. I have had to realize though, that it may not. This possibility saddens me, but I do hold the life philosophy that everything happens for a reason. If things go in the other direction, I am sure that in time this belief of mine will give me some solace.

Perspective is an interesting thing, isn’t it? We can look at a situation and experience nothing but dread, resistance, fear or some other less favorable feeling. With a simple change of perspective we may see the same instance as a remarkable opportunity for growth and learning.

One of the things that makes Arizona and California private money lender, Source Capital different from traditional banks is, perspective. When you go to a bank and they view your credit history and other deciphering criteria, you may not meet their established standards. You may get turned down for the real estate loan you were hoping for. The traditional lender’s perspective is that you, in some way, are not qualified to receive a loan. You may be considered a high credit risk due to a previous bankruptcy, foreclosure or short sale. Perhaps you have reached a state of bad credit due to unemployment, unexpected medical bills, divorce costs or some other life happening.

Bring your same exact financial records and life experiences to hard money lenders Sacha Ferrandi and Pat Hook of Source Capital and you may be in for a big suprise! After hearing nothing, but “no” you may get a resounding “yes!” How can that be? How can one loan funding agency differ so much from another. It is all about perspective!

 

To some, this picnic spot may look empty. To others it looks like a festive, fun barbecue waiting to happen! It's all about perspective.


Although both are sources of funding, non-bank loans are different from traditional bank loans. Source Capital meticulously follows all governmental laws and an exceptionally honorable, self-induced code of ethics. But even so, they have the ability to be more flexible. I love the way Sacha, Source Capital’s alternative funding expert explained it to me one day. He said, “we give loans to good people with bad credit.” It is so true! Acquiring bad credit does not make someone a bad person. Experiencing financial challenges and stressful situations is a part of life. I would be willing to say almost everyone at some point has gotten a taste of this reality.

Source Capital Funding, Inc. is a direct, private hard money lender that provides hard money loans throughout California and Arizona.  We lend in all major cities in California including, Los Angeles, San Diego, San Jose, San Francisco, Fresno, Sacramento, Anaheim, Bakersfield, Riverside and in Arizona cities including, Phoenix, Tucson, Mesa, Chandler, Glendale and Scottsdale.  If you have been turned down by traditional banks, give us a chance. If you need a private hard money lender to fund your hard money loan, Source Capital Funding wants to help you. We can be reached at 858.705.6144 or via email using our convenient online form.

If you enjoy the social media scene, you can find us on Facebook and Twitter. You can also read reviews others have posted about us on our Google profile page. Enjoy the rest of your Memorial Day, taking time to reflect and honor our brave veterans. Thank you to all who have served. Those we have lost and those who are still with us and able to share their perspectives. -Sindi Somers