HardMoneyLendersOnline.com Launches Comprehensive Database of Information on Hard Money

The recession's taken a toll on banks. Banks are freezing up credit markets and tightening up on lending practices.

Online PR News – 21-July-2010 – – July 20, 2010 - The recession's taken a toll on banks. Banks are freezing up credit markets and tightening up on lending practices. The effects of this on the economy are compounded by the fact that the median credit score has dropped considerably. This has resulted in a large number of borrowers that do not qualify for traditional debt products in the U.S. Often, these borrowers are also facing foreclosures and have other sorts of arrears. And yet, these same borrowers do have financing requirements and demands. And though there are bits of information for these borrowers, about where to go to secure funding and financing, the information is fragmented and scattered all over the web.

HardMoneyLendersOnline.com was established to provide to borrowers of distressed financial situations the most convenient and comprehensive information on loans and other debt products on the web, which can be used to begin the process of moving forward.

Hard money debt products are ideal for borrowers of distressed financial situations, because the risks stemming from the borrower's poor credit history, are alleviated on the side the lender's. The risks are alleviated largely through the securitization of the debt through collateral, specifically a hard asset. A hard asset is real estate.

When a borrower inquires with a hard lender about a particular loan product, the lender will require an appraisal of the property's so called quick-sale value. This value is lower than the market value of the property, and is meant to cushion the lender in the case of foreclosure (and the lender needing to sell the property right away).

Although the interest rates are higher on these debt products, and the loan to value ratios much lower, hard money does make for one of the only options available to a borrower that has a poor credit score and a generally distressed financial situation.

With all hard money arrangements, and due to the technicalities of these deals, it's advised that all borrowers that are considering entering into an agreement with a lender of hard money retain a real estate attorney in order to guide the borrower through this somewhat tricky process.

HardMoneyLendersOnline.com provides all of this information about hard money loans to borrowers, and breaks the information down into morsels that are specific to the city. It's the most comprehensive, most efficient layout of a website on hard money on the web today.

Troy Broussard