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They don't always take a monetary loss. If the property sells at the foreclosure auction, the lender will be made whole with all of the principal balance plus default interest, legal fees, etc. They don't make a profit with an auction sale. The true loss is the time and hassle. If the property does not sell at auction and the lender has to own the property, the idea is they will have some equity so that they can sell the property on their own without taking a loss. This is the reason that private lending leverage is so conservative with the maximum LTV of 70%.

totallendersolutions.com/

Correct

Thank you! Glad you enjoyed it.

Glad it was helpful!

Thank you for sharing this! Glad to hear you've found the content to be helpful.

Is the loan secured by real estate you own? Our video is only about usury for mortgage loans, not personal unsecured loans.

​@@PrivateLenderLinkit is unsecured

No idea. Consider talking to an attorney who specializes in Texas foreclosures.

No. A down payment is only for purchase loans. For a DSCR refinance or equity cash out, the maximum loan-to-value is 75% for most lenders at this time. It could be lower depending on the property's debt service coverage ratio and your credit score.

Banks don't offer fix and flip loans, and they don't consider properties that need to be renovated.

You always have to have a down payment. Lenders don't care if you're getting a good deal. For DSCR loans, the purchase price is the value.

Don't understand the question

@@PrivateLenderLink ok different Question is Mortgage Transferrable say I buy a New House but don't wanna take out another Mortgage Also what's a Equity Loan how does it work

@@badassuchiha4875 No, mortgages are not transferrable. It's tough to explain equity loans on a comment thread. Do some searches on UA-cam and I'm sure you'll find some videos with a good explanation.

We appreciate that.

Thank you!

We don't know of any set rules on when the funds need to be disbursed to you. Is the trustee not providing this information?

I don't understand the question. You need help forming an LLC? If so, I can recommend Corporate Capital Inc.: www.corporatecapitalinc.com/ Ask for Brent Carlson.

Not sure what your question is. Are you asking about the terminology? If so, this is covered in the video. If not, are you asking what the typical leverage is for most lenders?

No. Auctions require buyers to pay the entire purchase amount with a cashiers check. No lender will finance an auction purchase.

Darn, I guess I'll keep my job & pay my mortgage

@@PrivateLenderLink So, the eligible bidders (tenant/prospective owner occupant) are expected to buy the property with cash? Can they use hard money or other options and later refinance with a traditional lender?

@@grcdeepak1 We don't know of any hard money lenders that can finance an auction purchase for an owner-occupied home.

@@PrivateLenderLink Thanks for your reply. SB 1079 does'nt really help the average renter or home buyer !

You need to have your own cash. It's not possible to get gap funding for a DSCR loan. You would have zero equity in the deal. Also, DSCR loans require a 680+ FICO score.

By 100% it just means you don't come up with any down payment on the house. you need to have cash to pay for points and closings cost when the loan funds. Plus you need to show the lender that you have cash reserves.

Good idea, but I'm not sure if lenders would reimburse for that expense. Perhaps some lenders would be fine with that.

Perhaps BiggerPockets or PropertyRadar has some information about this.

@@PrivateLenderLinkappreciated

I don't think there is a limit on the number of bids received

Glad to hear that!

@@PrivateLenderLink Sir i am from India and want to know about the rules and regulations are there to setup a private credit fund. Will you please guide little bit ? 😊

Yes, but the catch is you need to have cash to pay for points and closings cost when the loan funds. Plus you need to show the lender that you have cash reserves. Most lenders will require you to pay for the first phase of the rehab out-of-pocket, then you'd get reimbursed upon inspection. 100% financing is only offered in select areas by local lenders. One lender that offers 100% fix & flip loans in 30+ states requires income verification and tax returns, plus they require a 650+ FICO score.

Glad you found it to be helpful!

Visit our website to browse lenders that offer bridge loans. You can reach out to them directly or click the CREATE A LOAN REQUEST button to enter your deal info so we can provide recommendations. privatelenderlink.com/search/ Note that the maximum LTV is 70% for most lenders. If purchasing a property, you typically need a 30% cash down payment. For a refinance, the maximum is 65% for most lenders.

@@PrivateLenderLink will do !!! Thank you very much!!!

Thanks for asking I forgot to put a link in the description. Lightning Docs is a subsidiary of Geraci LLP. Visit this link to contact him: geracilawfirm.com/attorney-members/nema-daghbandan-esq/

Almost all lenders require the borrower to front the cost of the first phase of the rehab out-of-pocket and get reimbursed after an inspection.

No, we don't know any private lenders for Puerto Rico.

Glad to hear it was helpful. The cap is 10% only if the loan was NOT brokered/arranged or funded by a licensed lender. Otherwise there is no cap. Charging default interest is very common in private lending.

Hi Jeremy, funding a loan under your CFL (California Finance Lender) license would make you exempt from usury. The exemption applies to both DRE (California Department of Real Estate) and DFPI (Department of Financial Protection and Innovation) licensees.

Usury law is applicable to where the property is located.

Always at closing. Charging an origination fee upfront before closing is likely a scam. Some lenders charge a deposit when you sign the term sheet, which is different.

Yes, DSCR loans are only for LLCs and Corporations. We don't know any lenders that offer DSCR loans to individuals (versus entities).

@@PrivateLenderLink yes they do

Yes, there are definitely flaws with SB1079. Not sure how the situation you described gets resolved. However, the bill was amended in January. AB-1837 was passed mainly to address fraudulent eligible bidders.

99% of private lenders require a personal guaranty (aka recourse), so it doesn't matter if the property is to be owned by your LLC. And 99% of private lenders only lend to a LLC or corporation.

@@PrivateLenderLink I have that now and a partner with 100k in it.

You're welcome. Always glad to help with lender connections.