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The Loan Lady

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The Loan Lady

56100 29 Palms Highway

Yucca Valley, CA 92284

  • Phone: 760-365-7003
  • Fax: 760-365-7113
  • Toll Free: 888-856-5239
The Loan Lady knows that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.
  • Attention Investors!
  • Call the Queen of Green!
  • Hard Money - Purchases - Refinancing
  • Apply Online - No Obligation!

After doing conventional and government aka "Bank" based loans since 1996, it became evident that there was a growing need for "private lender" based loans in the real estate loan market. Now that the "credit crunch" is upon us, the demand for Hard Money loans has significantly increased. No bank guidelines to meet! Simplified, people to people lending. Borrowers seek these funds, even at the higher interest rates as we are able to provide the funds very quickly, with no credit qualifying, strictly EQUITY qualifying is involved. With the values so low currently, many investors are taking advantage of the prices, but need their transactions closed faster than bank loans.

At 
the Loan Lady, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all, quality service and individual attention. Today's technology is providing a more productive environment to work in.


For example, through the Loan Lady
website, you can submit a complete online, secure loan application or prequalify for a home loan. You may also evaluate your different financing options by using our interactive calculators and going over various mortgage scenarios.

Specializing in Hard Money Loans

  • Closing Loans Everyday That Others Can't
  • Equity-Based Real Estate Financing
  • No Credit Score Information Required
  • No Income Documentation
  • No Banks Involved...So...
  • No Hoops To Jump Through!
  • Purchase or Refinance
  • Person to Person, Private Lender Financing
  • Investment Opportunities Available
  • All Secured, With a Great, & Much Higher Than Average Return!
  • Funding Loans For Hi & Low Desert Properties


The Loan Lady, Yucca Valley, CA [Loans]
  • Patti Brown
  • "The Loan Lady"
  • Hard Money Lending Program

Background:

After working for Thacher & Daughter for over 6 years, doing conventional loans as well as hard money loans, I could see the need for unconventional monies in the marketplace, and there was a desire for investors to make a higher return on their money than is currently being paid by traditional savings accounts, IRAs, stock market and retirement fund investments, with security in real estate collateralized loans. Borrowers seek these funds, even at the higher interest rates as we are able to provide the funds very quickly, with no credit qualifying, strictly EQUITY qualifying is involved.

Loans:

All our loans are secured by improved or unimproved real property (as opposed to personal property). These are equity based loans and for the most part are not concerned with the borrower's credit status or employment status, at least not to the degree of conventional lenders. The emphasis here is placed on equity in the unlikely event that there is a default; there is enough equity to hopefully ensure the return of the investors' funds through foreclosure proceedings. As a general rule, a loan is for no greater than 70% of the value of the property, with exceptions being made for borrowers that have a longstanding credit history with us and an excellent repayment history. For loans made onland, the value of the property will not exceed 50%.
 
As of 2008 we are no longer doing 2nd Trust Deeds or Construction Loans. When the real estate market returns to more favorable conditions, we will start doing them again.
 

Return of Investment:

The present market dictates interest rates ranging from 12% to 18%. The spread is determined by the nature of the security - improved, unimproved, proximity to services (which is another way of saying salability in the event we had to repossess and sell in order to protect the investor) and various factors that attend the security and the borrower. If the subject property is pristine, located in town, obviously it will earn the lower interest rate; if it's a property in need of serious rehabilitation, in farther outlying areas, than obviously it would earn a higher interest rate.

Duration of Loans:

Most loans we recommend are set for 3 years with the right to extend an additional 3 years if the payment history has been satisfactory. Some loans are only for 1 year, and construction loans are for a term of only 1 year. This is not to say that we don't have longer terms, or that they won't be out there for a shorter term. Most of our hard money loans are short term that bridge an immediate inability to a foreseen ability. For example, a quick cash deal is available to a person at a significant price reduction for acting quickly; a person is "curing" from poor credit or a bankruptcy, or a loan made on vacant land, which most conventional lenders won't do, etc. Our loans bridge the time gap involved until a person can either obtain conventional financing, or time to cure either themselves or the property. Statistically, about 60% of the loans are paid off within the first 2 years, which is to say that the loan has served its purpose and now the borrower can either sell or convert to a low interest conventional loan, which we do also.

Prepayments:

All our loans carry a 3 month interest guarantee. For instance, if you were to receive a payoff request only 1 month after providing the loan, payoff would be for your principal, and 2 more months of additional interest. Additionally, all loans carry a 10% late charge for any payment made 10 or more days beyond its due date.
 

Security:

A policy of title insurance is obtained on all transactions. A note and recorded trust deed are evidency of the security. On improved property, the lender will also be named on the owner's insurance policy.
 

Cost, Fees and Charges:

The borrower pays all the initial fees. Broker will provide all disclosures in that regard to the borrower.
 

Risk:

All loans are attended by an element of risk. Hard money loans bring to the lender (investor) considerably higher interest rates than institutional loans because the element of risk is greater; borrowers frequently have a poor credit record and are considered a greater risk. We try to be conservative in the loans we originate so that in the event of default we have provided enough equity protection to solve the problem, be it by foreclosure and resale or by deeding back and then reselling the security property. If you are not comfortable with equity lending with its higher degree of risk, you should not choose this method of investing. Also, there are some costs involved should the loan default and the property revert back to the investor. These costs are generally recoverable at the time of resale. We do have our own in-house trustee to handle the foreclosure should it ever come to that.
 
If you would like the name and phone numbers of references (investors) who have participated in the hard money lending programs, just ask as we're happy to provide that for you.
 
Please give us a call if you are interested, or if you have any questions.
 
Sincerely,
Patricia Brown
Owner/Broker
 

Evenings and Saturdays by appointment

The Loan Lady, Yucca Valley, CA [Loans]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Hours of Operation

09:00 am 05:00 pm
09:00 am 05:00 pm
09:00 am 05:00 pm
09:00 am 05:00 pm
09:00 am 05:00 pm

Categories

Money, Loans, Real estate-loans, Mortgages

Services

Mortgage Banker, Mortgages, Loan Documents, Loans, Mortgage Services

Products

Loans

Service Areas

White Water, CA; Palm Springs, CA; Desert Hot Springs, CA; Cathedral City, CA; Thousand Palms, CA; Rancho Mirage, CA; Palm Desert, CA; Indian Wells, CA; La Quinta, CA; Bermuda Dunes, CA; Indio, CA; Coachella Valley, CA; Mecca, CA; Morongo Valley, CA; Yucca Valley, CA; Joshua Tree, CA; Twenty-Nine Palms, CA; Yucca Valley, CA;

Location

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