Since the collapse of the housing market and the start of the recession, the California Department of Real Estate has seen its fair share of bad real estate actors and defunct hard-money lending firms.
While the department does not keep statistics to show whether fraudulent behavior is worse in this county, Jeff Davi, commissioner of the [...]
Posts Tagged ‘hard money lenders’
California Department of Real Estate official discusses lending fraud
December 16th, 2009 by HardMoney Writer
Tags: District Attorney’s Office, estate financial, hard money, hard money lenders, investments, investors, lending fraud, mortgage lending, real estate
more...Hard lessons for hard money investors
December 14th, 2009 by HardMoney Writer
If it seems too good to be true, then it probably is.
That could be the mantra repeated by scores of investors entangled with several local hard money lenders responsible for San Luis Obispo County residents losing millions of dollars.
Some of the investors were professionals and business owners who considered themselves to be savvy enough to [...]
Tags: bankrupty, Business owners, estate financial, hard money, hard money lenders, Hurst Financial, investors, real estate
Investors can now get results, scores on hard money lenders
December 11th, 2009 by HardMoney Writer
Thanks to a new state law, investors have the right to get scores and the examination results for hard money lenders operating in Nevada.
Hard money lenders, sometimes called private lenders, solicit money from individual investors and use the money to make short-term loans to developers and others who provide real estate as collateral.
Most Popular Stories
# [...]
Tags: All Western Mortgage, foreclose, Goldwater Capital Nevada, hard money, hard money lenders, Integrated Financial Associates Inc, investors, lenders, loan, money, mortgage, Nevada Mortgage Lending Division, real estate
Judge signs claims motion
December 10th, 2009 by HardMoney Writer
The business was run by Polson businessmen Keith Kovick and Bob Congdon.
Last week, Helena District Court Judge Kathy Seeley signed a motion approving a claims submittal process that will allow investors to work toward recovering funds lost in the alleged scheme.
The process lays out a paperwork procedure beginning with a form (printed fully [...]
Tags: hard money, hard money lenders, hard money lending, investors, Montana Commissioner of Securities and Insurance, mortgage lenders, mortgage lending, Securities Commissioner
Congdon denies fraud charges
December 3rd, 2009 by HardMoney Writer
State officials inched forward last week with their action against Bob Congdon and Keith Kovick by filing a request for a hearing scheduling conference in Helena District Court.
This moves to advance the administrative case holding that the pair committed fraud while operating Cornerstone Financial Corporation and K and B Investments in Polson.
The businessmen came under [...]
Tags: attorney offices, bad economy, big deal, borrowers, brokers, businessmen, fraud charges, hard money, hard money lenders, hard money lending, insurance, investors, Leader office, lenders, The Commissioners of Insurance and Securities
Home buying the ‘hard’ way
October 23rd, 2009 by HardMoney Writer
If that sounds a little like how the Mob works, don’t worry. Hard money lenders aren’t loan sharks who break borrowers’ kneecaps when they can’t repay. At the same time, these lenders aren’t your Granny Sue. They charge interest rates and fees that would make conventional borrowers cringe and often base [...]
Tags: borrowers, broker, foreclosure, hard money, hard money lenders, loans, news, private money, real estate investors, refinance, subprime lenders