What is Bridge Or Hard Money Lending?
As we all know from reading the papers and listening to the news, conventional banks are not lending. They are certainly not lending to marginal borrowers, and they are not lending to the most pristine borrowers.
This has created a great opportunity for those that have the ability to lend, whether they are mortgage banks or individuals with funds. Bridge money lending. As discussed below, Bridge Lending is a fantastic opportunity that has been made even better by the fact that banks are holding on to the money that has been given to them by the government instead of lending it.
The types of deals that have typically gone searching for bridge money have involved borrowers that may not have had great credit, or deals that required more done before a traditional bank would get involved. That is not the case now!
Today, there are many great deals with great borrowers that need to go this route because the traditional sources have dried up.
