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Michelle Leisey - October 30th, 2009 10:36 AM

Yes Im having a hard time trying to get a loan my fico under 500 and I have 100% equity no mortgage own $175000 house all paid in full,husband terminal I need a emergency loan will pay anything to get loan before he passes and let him pick where ever he wants to go,also pre pay funeral cost so I dont get stuck when he passes trying to give him proper burial,please help me I want to get money before Dec.10th so we can leave over the holidays thank you

Hard Money - December 26th, 2009 12:38 PM

Less than 500 Fico score was always to get approved. In the go go days of the lending boom between 2003-2007, it was manageable. But currently you only option is to go for a alt="hard money loans">hard money loan from a private money lender. Sub-prime borrowers even with a big downpayment or home equity in their commercial or residential real estate are still being shunned by conventional lenders. In this tough lending environment, the best bet is to try with a local hard money lender that understands the local market well and be willing to lend out. Property investors and developers who used to do rehab fixer/upper properties are totally shut out of the current credit cycle. They will have to make do with lenders who charge high interest rates and bad loan terms.


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