How can I invest in foreclosures without cash?

Archived in the category: foreclosure investing
Posted by admin on 27 Jan 09 - 2 Comments

There is a book about this topic. I don't understand how this could work.

Hard Money Loan……
Many hard money mortgages are made by private investors. often in their local area. Usually the credit score of the borrower is not important. The loan is purely against the collateral of the property. Typically the maximum loan to value is 65-70%. That is, if the property is worth $100,000 you can borrow $65,000-70,000 against it. This low LTV is to cover the lender if the borrower does not pay and they have to foreclose on the property.

You can do more research on hard money loans. There are many hard money loan lenders.

I hope this helps.
BEST WISHES!

2 comments for “How can I invest in foreclosures without cash?”

1
Unstoppable Dreams

Hard Money Loan……
Many hard money mortgages are made by private investors. often in their local area. Usually the credit score of the borrower is not important. The loan is purely against the collateral of the property. Typically the maximum loan to value is 65-70%. That is, if the property is worth $100,000 you can borrow $65,000-70,000 against it. This low LTV is to cover the lender if the borrower does not pay and they have to foreclose on the property.

You can do more research on hard money loans. There are many hard money loan lenders.

I hope this helps.
BEST WISHES!
References :
http://en.wikipedia.org/wiki/Hard_money_loan

January 27th, 2009 at 9:03 am
2
Jerry B

Your looking for a cash investor.
I got mine from lawyers and Doctors..
Target those who have money…think think..
References :

January 27th, 2009 at 9:37 am

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