(June 23, 2012) Maggio Capital became the hard money lending leader in California as they widen their coverage to provide money to investors.
(prHWY.com) June 23, 2012 - Del Mar, CA -- (June 23, 2012) Maggio Capital became the hard money lending leader in California as they widen their coverage to provide money to investors. They engaged in the funding and underwriting of short term hard money loans that are secured by real property in coastal communities as well as major metropolitan areas in California.
Maggio Capital, the leading provider of hard money in California, became the leader in California when it comes to hard money lending. The focus of the company is to provide fast and convenient solutions for borrowers who are unable to get traditional financing.
A lot of experts said that hard money lending has become the latest trend in the lending industry. Though traditional loans are still popular and beneficial, there are a lot of people who consider hard money as one of the best and the fastest solutions to their financial problem.
Investors consider the lending money as soft or hard. Basically, the money is called soft if it is easier to acquire and the terms are more flexible. Hard money is the opposite. It is not considered as difficult to obtain but it is more restrictive than soft money lending. The terms and conditions given by the
hard money lender are stricter compared to soft money lenders. The money given to the borrower comes from private individuals with a great deal of money on hand. This is the reason why it is also called as Private Money. The money that is given to the borrowers came from normal people and not from a typical lending institution. The first priority of the lenders is to protect their investment capital so they have to be strict on the terms and conditions to make sure that the money that they produced will be returned to them together with the interest.
When it comes to the terms and conditions, it is different from lender to lender. Traditionally, the lenders will provide the lending the money based on the property or deal at hand. It means that the money that they will lend to the borrowers will only depend on the certain percentage of the fair market value of the property.
However, the government provided more laws that are favorable to the consumers like consumer protection laws, time consuming and expensive court procedures. According to experts, this is the main reason why the lenders decided to become even harsher on the terms and conditions. Since most of the laws are favorable on the consumers, they have to put a lot more pressure on the consumers by providing stricter terms and conditions.
This problem also caused concerns on the consumers. Most of them who are unable to avail traditional lending money end up relying on hard money loans. The good thing is that Maggio Capital provides the most competitive rates in the industry and probably the most flexible terms and conditions among the other hard money lending institutions. This is the main reason why a lot people consider them as one of the best and the most reliable
hard money lenders California.
http://www.maggiocapital.com/
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