Where to go when the banks say no?
Your Bank say No! What can you do? as seen in CO Biz Magazine You need cash and the bank says no. Most small business owners have been in a situation where they have an excellent opportunity but they are…
Fairview Featured in the Denver Post
Fairview Commercial Lending Residential and Commercial Hard Money Lenders Fairview Featured in today’s Denver Post Residential Hard Money In Colorado and markets throughout the country including Atlanta, Chicago, Miami, etc… flipping is falling out of vogue as margins continue to…
Hard Money Lawsuits
As I’ve mentioned in several articles on our Hard Money Commercial Lending Resources Page, there are a number of items that brokers/borrowers need to be mindful of before engaging in a commercial lending transaction. The number one tip is: Be wary of large upfront fees. A recent article in the Wall Street Journal further highlighted this advice. The article titled: U.S., States probe real estate loan broker (www.wsj.com 6/25/08 p:A3) discusses how “the advance fee plan has cost borrowers millions”. This article highlights an all too common problem within the commercial lending arena.
Two firms are being probed by the FBI and SEC (Bluestone Capital and Remington Financial Group). The California department of corporations is also investigating Landbridge equity. These firms are accused of taking large upfront fees with the intention of “not seriously pursuing financing”. Unfortunately a substantial number of borrowers have likely lost millions as a result of the “advance fee” plan that these three companies have utilized.