The below article (reprinted with permission) is an exact description of the relevance and importance of Private Money Lenders here in Sonoma County, in the USA and probably planet wide.
If we left it to the bailed out banks, zero money would have been lent during the years of the most recent real estate debacle.
The dust is finally settling on who remains standing in the real estate lending arena. It really boils down to the “A” lenders who do the 30 year fixed loans and the Private Money Lenders. There are no more “B” and “C” lenders. There is no subprime lending.
There is no World Savings with their Quick Qualifiers and stated income programs.
After you take your shot with the “A” lender(s) and they say “NO”, you go straight to Private Money. These Lenders, including myself, stand ready and willing to fuel the future of real estate in America today!
Attached article: From TheNicheReport - “PRIVATE MONEY LENDERS HAVE FUELED THE REAL ESTATE RECOVERY“by Corey Curwick Dutton, a private money consultant for Private Money Utah. www.PrivateMoneyUtah.com
Owner/Broker - The Guy in the White Hat
Sun Pacific Mortgage & Real Estate
Your Northern California Hard Money Lender since 1988