5.2.2012 – Good People Get Bad Credit

Homeownership is down due greatly to the growing number of property foreclosures in our country. Another contributing factor is stricter criteria of traditional banks keeping potential buyers from purchasing. Detailed information regarding this issue can be found in the article at the link below.

Business Week Article – Homeownership Now at its Lowest Since 1997

So, what do you do if you want to buy, but you don’t meet a bank’s rules for qualification? Where do you turn if you yourself have gone through a foreclosure? What if you have had a bankruptcy or have bad credit? Although they meticulously follow all governmental laws and requirements, San Diego hard money lender, Source Capital funds loans from private money sources. This allows them more flexibility than traditional banks. Private money loan experts, Sacha Ferrandi and Pat Hook look at the big picture. They have a deep understanding of the economic crisis and how it has effected most of us in one way or another.

Illness, medical bills, lay offs, getting fired, legal fees, divorce, bankruptcy and foreclosure are all a part of the world we live in. Not only can all of these things effect our stress level and emotional state, but they can adversely effect our credit. Along with having an open mind and reviewing the big picture, Source Capital’s private lending professionals also have compassion. Sacha and Pat are aware that reality isn’t perfect. Things happen that can deplete people’s finances. These situations can happen to anyone. Good people from all walks of life contact our office daily seeking help.

Based in north San Diego County’s Rancho Bernardo, Source Capital is licensed to handle real estate and construction loans in Arizona and California. If you are ready to buy for the first time or are back on the market again, contact Sacha or Pat. Call 858.705.6144 or email using their online form. If you want to find out what other people are saying about their experiences with hard money lender, Source Capital, read reviews people have written about us on Yelp . To see more than just the first review listed on Yelp, click on the greyed out words, “(9 filtered)” located under the first review to the left of the screen. Thank you for reading and I hope we can help you with your home loan process! -Sindi Somers