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It is not often we bring you press releases. However this one from respected prnewswire.com is worth quoting extensively as it explains what Arizona hard money lenders are doing to assist in the current times of need most people are enduring.

Quoted From The Article:

“During these trying times with COVID-19, Hard Money Lenders Arizona is working tirelessly to ensure accessibility and services to their Arizona base of clientele. In an effort to provide more offerings and assistance, they are expanding their loan programs to include commercial hard money loans to residents of Arizona as they may be running into funding challenges in the short term. A commercial hard money loan is dependent on the real estate assets the borrower has. Commercial hard money loans are also called “bridge loans”, “no-doc loans” or “private hard money loans” just to name a few. Loans from traditional lenders decide if a borrower is qualified based on their credit, financial statements, etc., while a commercial hard money loan is strictly based on assets the borrower has. This allows borrowers whose projects don’t necessarily meet the traditional guidelines of most banks and other lenders to receive funding from other reliable private lenders.”

“Potential to receive hard money lending in Arizona falls back on certain criteria including but not limited to credit history, insurability and/or ability to provide property collateral. The company has been built on the foundation and mindset that just because an individual may have a poor credit score does not mean that they should be incapable of receiving lending or financing for any and all real estate or business purposes. ”

“Hard Money Lenders loan programs are designed for Arizona real estate investment professionals and to help make the process of investment funding fast and easy. Their simple loan process enables clients to close purchases in as little as 3 business days. They work with investors buying REOs, short sales, real estate auctions, trustee sales, trustee sale refinances, private party, and even residential construction projects. Their programs focus on single-family residential properties (1-4 unit) all throughout the state of Arizona.”

Source: https://www.prnewswire.com/news-releases/hard-money-lenders-arizona-expanding-loan-programs-to-assist-during-time-of-need-301031830.html

When you are searching for hard money loans near me in Phoenix, Scottsdale, Glendale, Tempe, Mesa, Chandler, or Gilbert, Arizona; Brad Loans is Arizona’s most trusted direct hard money lender!  We specialize in hard money loans for Fix and Flip, refinancing mortgages with bad credit, business loans secured by real estate, real estate purchases, short sales, and other endeavors with quick turnaround in the Phoenix Valley.

BradLoans.com is the most trusted direct hard money lender and private money lender in Arizona! We are the best hard money lender in Arizona with the ability to fund commercial & residential hard money loans many times within a couple of days or less. Our lending rates and fees are reasonable compared to other Arizona hard money brokers or mortgage brokers in Arizona.

The Consumer Financial Protection Bureau says: “Amortization means paying off a loan with regular payments, so that the amount you owe goes down with each payment. Negative amortization means that even when you pay, the amount you owe will still go up because you are not paying enough to cover the interest.”

How It Happens

Some borrowers experience negative amortization with an adjustable-rate mortgage (ARM). An ARM is a home loan with an interest rate that fluctuates based on consumer indexes. In order to protect borrowers from steep increases, some ARMs include a cap on your monthly payment. However, if rates rise enough, that maximum payment may not be enough to cover your monthly interest. When that happens, the unpaid interest is added to your principal, effectively increasing your loan balance rather than paying it down. This can lead to more issues for a borrower. If the housing market in your area experiences a downturn and your home value declines while your loan principal continues to increase, you may find yourself with an upside-down mortgage and that means you owe more money than the worth of your home.

Avoiding Negative Amortization

The first step to avoiding negative amortization is to confirm with your mortgage provider the type of mortgage that you currently have to determine your risk of having to deal with this scenario. The simplest way to prevent negative amortization is by always ensuring your monthly payments cover the interest accrued. This could mean paying more than your minimum monthly payment. Another option is to refinance with a fixed-rate mortgage.

Source: https://openmortgage.com/negative-amortization-what-it-is-and-how-to-avoid-it

When you are searching for hard money loans near me in Phoenix, Scottsdale, Glendale, Tempe, Mesa, Chandler, or Gilbert, Arizona; Brad Loans is Arizona’s most trusted direct hard money lender!  We specialize in hard money loans for Fix and Flip, refinancing mortgages with bad credit, business loans secured by real estate, real estate purchases, short sales, and other endeavors with quick turnaround in the Phoenix Valley.

BradLoans.com is the most trusted direct hard money lender and private money lender in Arizona! We are the best hard money lender in Arizona with the ability to fund commercial & residential hard money loans many times within a couple of days or less. Our lending rates and fees are reasonable compared to other Arizona hard money brokers or mortgage brokers in Arizona.