Question:

Will a hard money mortgage lender help save my house from foreclosure?

Answer:

Well, this is what a hard money mortgage lender often does. In fact, lending money to someone in foreclosure is one of the ways hard money lenders can help you. This is their mission. Sometimes even subprime lenders wouldn't agree to lend you money and the hard money mortgage lender is a life saver.

That is why hard money loans will carry even higher rates than subprime loans and are even more difficult to find.

If you are in need of hard money financing, your best bet is to contact a mortgage broker to match you with a hard money loan lender.

So, in short, to answer the question - yes, it is likely that a hard money lender will be willing to lend you money to save your home for foreclosure especially if you have equity in the home. If you don't the lender's guarantee that the loan will be repaid doesn't exist and you may not be considered good risk for a hard money loan. Hard money lenders are no charity.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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