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| How Hard Money Works Remington Financial Group is equipped to handle the expedited closings of 30 days or less, which makes it unique in the lending space. Our firm does it by preparing all of the necessary underwriting resources (attorneys, appraisers, etc.) to review and approve a loan very quickly. RFG employs a lower loan to value ratio than a traditional lender might, which allows the firm to recover its investment should the need arise. Also, Remington often times skips traditional underwriting steps, such as evaluating a borrower's credit rating or examining his experience level, as a means to progress the loan more quickly. We require a water tight appraisal of the property that ensures RFG can tolerate the high risk. Also, RFG will always require an appropriate exit strategy. If a borrower can not share how the loan will be repaid, in reasonable terms, we will not make the deal. Remington Financial Group has no interest in taking possession of a property and does not view foreclosure as a suitable exit strategy, but we can work with you to identify an appropriate strategy. Remington Financial Group can help you with your hard money needs. Contact us to discuss your transaction today. |
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