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Latest News06/05/06 Hundres of Foreclosure Lenders In Our System ForeclosureEquityLoan.com now has hundreds of lenders in our system willing to lend to people in foreclosure. Most are considered hard money or private money lenders. These lenders and brokers are usually small private firms that lend locally ... 25/04/06 New lenders available! New lenders added. Your application will now be shopped to over 15 New Loan lenders since January 1st. Please apply now for new lender specials. 18/04/06 Security update Security and privacy is of the utmost importance. We utilize 128bit encryption when shopping your loan application to our lenders. All data remains in OUR system until your application is accepted. Current Rates |
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Company NewsMay 06 2006 Hundres of Foreclosure Lenders In Our System ForeclosureEquityLoan.com now has hundreds of lenders in our system willing to lend to people in foreclosure. Most are considered hard money or private money lenders. These lenders and brokers are usually small private firms that lend locally, usually within a 100-200 mile radious of their location. They are difficult to find when needed. Our system allows us to match you to one or more lenders that can help in a short time. The key is to have some equity in your property to lend against. Some lenders will make a 2nd or even 3rd mortgage if you have enough equity. What is enough equity? Well that is different with each lender, and for each property. The factors considered are property type, location, condition, and local real estate market conditions. The general rule is 65-75% Loan-to-Value ration is the maximum. If you don't have sufficient equity we can still help by matching you to other companies that specialize in helping homeowners keep their home via other methods. These methods can include negociating with your lender, credit counseling, equity sharing, or a simple quick all cash sale for your equity. Our process starts by having the homeowner fill out our easy to complete loan request form. The homeowner is usually contacted with 48 hours by one or more helpful lenders, brokers, or financial help companies in order to complete the loan process. |
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