The subprime and mortgage crises that hit us this summer 2007 has left thousands of southern California home owners without the refinancing options that where available at the begining of the year. When Bear Stearns announced their turmoil the entire financial markets hit a speed bump and subprime lenders hit the potholes. Every day you would hear of a new subprime lender that was out of business or on their way out of business, or you read about it in the newspaper or website that was dedicated to be the first to report to next big mortgage fumble. The subprime market has changed while private money lending is still lending as they always did and is the financing option for poor credit borrowers in today’s economic environment.

While the subprime borrower who did 100% financing in a southern California housing area that then experienced a 20% or more correction in value are unfortunately joining the crowd of foreclosures that we are experiencing in southern California, but for those who where responsible and have equity in their homes and have fallen on bad times, private money lending is filling the gaps of this subprime debacle with loans up to 80% LTV with proof of repayment and up to 70% LTV with Stated Income.

As an originator of private money loans in California for all credit types, property types, and loan structures I can tell you that private money lending is strong and well. We are watching what we lend on, but we are glad to go up to 75% of the current value as long as we see that the borrower has the ability to repay. This is usually accomplished with business or personal bank statements. California Private Money Loans are available on single family residences, apartment buildings, commercial buildings, residential lots, commercial lots, and many more property types.

If you would like to find out more about what is happening in the private money lending in California feel free to email me, call me or visit me at:

Jeff Chaney

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