Pitbull Mortgage School teaching hard money lending by Leonard Rosen
Jay Lillie
February 07, 2009
America's leading expert on hard money, Leonard Rosen, speaks on the real estate current condition.
Never have we seen a financial crises as we are experiencing today. Many lending institutions have restructured their underwriting guidelines to such a conservative degree that many residential and commercial loan scenarios fall outside of their guidelines. This is clearly a departure from that 90's when it seems that almost every loan was approved and funded.
Times are changing. The reality that responsible lending practices is the only way sustain viability in the marketplace. Our country is in recessionary times with more unpleasant times to come. I, along with many lending experts, predicted the mortgage meltdown over 3 years ago.
We have seen a cascading downward trend in real estate values in almost most major markets. Clearly, the hardest hit have been California, Florida, Arizona and Michigan. Most experts agree that the real estate market will begin the firm up by 2010.
Hard money is more relevant in today's market than ever before. For more information on hard money lending, please visit our website www.pitbullmortgageschool.com