Hard Money Lender

Thousands of students could be missing out on a year of college as several private-sector lenders get out of the market for education loans.  The number of private-sector loans has increased ten-fold in the past decade as goverment aid fails to keep up with the rising cost of tuitiion.

Among the two dozen lenders who have stopped or curtailed lending to students are Bank of America, Citigroup, and Wachovia.

Those lenders who are staying in the game are using toughing standards.  FICO scores that were once good enough to secure a student a loan are now considered sub-par.  Some have raised their threshold by as much as 100 points.

Restrictions and limits on available private-sector and sending students in search of alternatives.  Working part time while taking full course loads seems to be the option for some.  Perhaps hard money loans will become an option for some.

For more information on how to get in on the hard money lending game, contact the Pitbull Mortgage School at 858-736-7788 today.