Advantages of Hard Money: (1) Condition of the Property is usually not an issue; (2) Credit is largely irrelevant; (3) Income does not need to be verified; and (4) Very short escrow periods are not an issue.
Inflation is here, and rates appear to be heading up, although some analysts think the Fed will affect at least one more major dip in rates. There is a great article on the last page of today’s WSJ (Section A) by Arthur Laffer discussing the inflation threat.
If inflation does hit hard, and rates do sky-rocket, do not despair. The Hard Money source quoted above has been in business since 1973, and he was busier than ever in the late 1970s with purchases when rates were in the double digits. The reasons, according to our hard money source: (1) Real Estate is a great inflation “hedge”; and (2) there is always demand for home purchases no matter what the economic conditions.
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