Recentlly passed Predatory Lending- GA - Posted by MikeS

Posted by MikeS on February 03, 2003 at 10:42:46:

Thanks for the info !

Recentlly passed Predatory Lending- GA - Posted by MikeS

Posted by MikeS on February 03, 2003 at 09:56:24:

How does this recently passed Predatory Law in Georgia affect investors ? I understand there are a few companies that no longer do business in Georgia. Where can one find Hard money lenders in Georgia ? Greia ?

Re: Recentlly passed Predatory Lending- GA - Posted by James Strange

Posted by James Strange on February 03, 2003 at 11:09:49:

Lots of lenders are pulling out. That means the ones left will not have to compete.

Re: Recentlly passed Predatory Lending- GA - Posted by Ed Garcia

Posted by Ed Garcia on February 03, 2003 at 10:19:17:

Mike,

Interesting enough, Predatory Lending should provide more money for investors. You see it effects owner occupied but not none owner occupied which would be considered commercial due to the purchases are made for profit.

“Hard Money” lenders should now focus on NOO borrowers because they can obtain their same yields and not have to contend with Predatory Lending.

It’s sad for the borrowers who have gotten themselves into financial trouble because it has denied them of a good source of funds that could perhaps save their home.

Ed Garcia

Re: Recentlly passed Predatory Lending- GA - Posted by MikeS

Posted by MikeS on February 11, 2003 at 14:46:28:

Have they tweaked the recently passed bill like they say they were ? What I’m really trying to find out is how I’m able to obtain a hard money loan for the duplex that I own. I had to stay in the unit for one year(FHA) and I’m still in one of the units. So, in order for me to obtain some kind of financing I would have to move ? I would like to do a little fixup and purchase another duplex.