Hard Money Process
Hard Money Process
There are two types of loans we typically fund:
1) Trustee Sale Funding
2) Traditional Funding Through Title
Short Sale | REO Purchase | Straight Sale From End User
Traditional Funding Through Title
– Short Sale
– REO Purchase
– Straight Sale From End User
Borrower
– Receives Confirmation of Accepted Contract
Provides Clear Mortgage the Following Information:
– Property Address
– Purchase Price
– Your Estimate of the Property Value
Clear Mortgage
– Runs an In-House Valuation
– Determines Estimate of Home Value
– Determines Loan Amount
– Ask for Title Contact
– Contact Title Company for Title Insurance
– Create Loan Documents
– Deliver Loan Documents to Title Company
– Clear Mortgage Money Wired To Title Company
Borrower
– Signs Loan Documents
Title Company
– Disperses Funds to Selling Party