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Private Money Gives Investors Hope in a Tight Credit Market
14 Jan 2009 | No Comments | posted by Corey Curwick Dutton | in Private Money
Credit is getting tighter and tighter. Many people say it’ll NEVER go back to the glory days of 2005 and 2006 when banks were just giving money away.
But why is credit so tight? There are so many reasons, but one of the biggest reasons is that no one is buying the paper they were buying even 6 months ago!
The good news is that private money is easier to get and the terms are getting better and better. For example, I have some private money loan programs with APRs as low as 7.5%!! Private money lenders are now stepping in and funding loans that banks just can’t do anymore.
So despite all the doom and gloom that the media is throwing at you, keep your head up and keep working hard. The good deals will still find funding, even in a tight credit market.
Any further thoughts on tight credit getting tighter? Or..what to do about it?
All opinions on this topic are encouraged and appreciated.
Posted by Corey Curwick on January 14, 2009
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