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Donna,
The lady does not know what she is talking about. She probably does not even know what a true hard money loan is.
Just do a google search for hard money lender and see what comes up for your area.
Jackie
Does anyone know if there are new laws governing hard money lending? My broker told me last week; (she has a mortgage lending division so perhaps is only relative to institutional sources of funds…?) that there are now new laws that require owner-occupancy for all hard money loans now….which, she says, t will essentially wipe out hard money lending….
we are in calif;
but has anyone else heard about this; or have any insights/suggestions?
so, bottom line; what effect, if any, does any of this have on private sources of hard money; or on creative investing, in general?….
what is the scoop/bottom line/street smarts on this?
thk you
d
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