Fast Funding Reality or Fiction?

Everyday I am contacted because a borrower needs money rapidly. When I say rapidly, I mean within three to four days. While it would be nice to be able to deliver funds this fast in mosst cases it will not happen. For due diligence I contacted a number of other hard money lenders as an informal survey and all agreed that this was not feasible. As you can see I did not say impossible, but realisticaly not feasible.

Hard Money loans are not gambling money, they are loan securitized by colateral which is real estate. The securitization process requires to go through a number of steps. Taking these steps from identifying the property, putting together a loan solution, to recording the loan will take a number of days. In general it is difficult to fund a loan in less than 6 days on average.

As a perspective I have spoken with colleagues that have funded loans in four days. At the same time, I have spoken with colleagues that would not even look at packages unless they have at least 6 to 10 days. If a loan is needed rapidly then but can not be arranged there are a number of alternatives to be considered, from getting an extenssion on a purchase contract and foreclosure to negotiating with different creditors. In most cases this can be achieved succesfuly, only once in my experience this was not possible.