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By Corey Curwick on July 12th, 2010
In 2003, while completing my MBA, I believed then that virtual office was the certain future. My peers and mentors all scoffed at the idea.
“People will never give up their offices.”
“Companies will never allow their employees the f...
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I’m just now coming up for air after the Crittenden National Private Lender’s Conference two weeks ago in Vegas. I met so many great people at the event, from private money lenders and brokers to savvy real estate investors and industry innovators. You know it’s been a successful networ...
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Many people cannot underestimate the value of a qualified broker when it comes to private or hard money loan requests. I always use the comparison between a good broker and a good attorney. The analogy is presenting a deal for funding to the lender compared with presenting a case to the judge an...
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Mortgage & Lending Fraud – Some of the Most Popular Scams Out There I found an interesting post on a popular blog, The Consumerist, about popular mortgage scams to watch out for. Although I thought I had probably heard of all of the scams floating around out there, I was surprised t...
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I wanted to continue on this discussion from last week’s post, “Checklist for Fast Closings of Private or Hard Money Loans.” I found a few good items that I wanted to add to this checklist. In an older article out of the Scotsman Guide, written by John Kutac of Western Capital, some oth...
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Most investors who seek private or hard money need it fairly quickly. Reasons can include: –Other Notes coming due –An unexpected interruption in funding –A quick takedown of real property being offered at a deep discount Or, the worst, a Note being called due by the bank wi...
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After listening to President Obama’s address tonight to Congress and it spurred me to try and solicit more commentary from some of you in my network on a topic I brought up in one of my most recent posts on the future of banking and lending. Obama talked about the need to create more lend...
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I found this interesting blog post recently that discussed current changes in lending and future changes: New World of Lending: 2009 Economic Forecast. Some of the facts in this post I found to be a tad bit shocking but unfortunately very believable. One of these facts was that 40% of foreclosures...
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I wanted to continue on the discussion about Stated Income Loans from a post on the blog from a few weeks ago, “Stated Income Loans – A Thing of the Past?” A banker friend of mine shared an interesting fact about her bank’s portfolio of stated income loans. Less than 1% of this said portfoli...
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I have an awful story to share with a good ending. A developer friend, who I have put deals together for in the past, called me frantically yesterday. With a halfway completed commercial office building, his private banker of over ten years, just told him that the bank would be pulling his line of...
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If a loan has to be funded quickly, the Loan to Value is a factor which determines how quickly the loan could be funded. (Not the only factor but a factor). Private Money lenders are obviously more conservative with loan to value now than they were even six months ago. Particularly on less desir...
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