Hard Money Loans from the California Mortgage Loan Company

The California Mortgage Loan Company specializes in hard money loans for California homeowners with bad credit scores seeking jumbo fixed rate refinancing for debt consolidation and foreclosure prevention. We help California homeowners get access to quick cash with private lending sources that offer hard money mortgages even if your credit scores are below 500. Counties from San Diego to San Francisco are reporting an alarming increase in foreclosure properties with more and more loan payment defaults being reported every day. Today, there are approximately 900 properties per month in San Diego that get placed on the schedule for sale at the county's daily foreclosure auction. Most homebuyers don’t realize how strong the foreclosure market because they have no access to updated home for sale that recently defaulted.

Questions and Answers

Is there anything positive about the Federal Reserve Increasing the Interest Rates?

The Federal Reserve lowers interest rates and the values for properties increase as the rise of home sales increase the prices. When the Fed increases the interest rates the opposite can happen. The rate hikes can make the home prices drop which can increase the affordability for many Americans. Unfortunately, many homeowners took out ARM mortgages because they wanted a lower payment and in some cases because these borrowers didn't qualify for a fully amortized loan, so the payment option arm was their only choice. Some California residents were able to refinance out of their negative amortization ARM’s into a better fixed rate loan but many borrowers missed that opportunity. The homeowners that bought their homes more than three years ago and then refinanced near the height of the market were able to get better terms.

The California foreclosure wave is forecasted to increase between 2007 and 2012. California economists predict that home prices may drop between 25 and 50%. If interest rates rise, sellers have to lower their prices even more to find qualified buyers.