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Getting a bank loan in the name of your business that reports to the business credit agencies is invaluable for building business credit and finding larger and less expensive financing in the future. It may seem like an impossible task since banks have very tight lending criteria compared to other funding sources, but there is [...]
In today’s tough economic times there are millions of families across the U.S. facing the imminent prospect of foreclosure who are not aware that a loan modification is available to save their homes. Many of them are on Negative Amortization Loans, also known as Option Arms, 2/28’s, 3/27’s and 5-year interest only programs. These loan [...]
A broker acts as an intermediary who sources loans on behalf of individuals or businesses.
Traditionally, banks and other lending institutions have distributed their own products. However as markets for mortgages have become more competitive, the role of the broker has become more popular. Today in most developed markets brokers are the largest distributors of [...]
Owner builder construction loans, like the rest of the mortgage industry, have had to tighten their belts to survive in today’s lending climate. For borrowers who wish to build their own homes, this translates into tougher guidelines to secure financing. However, there are still four creative ways that an owner builder has available to close [...]