Now You Can Become a Hard Money Lender.
"Today, Hard Money Lenders that did not overextend themselves during the boom and still have capital to lend, are poised to cash in as the credit crunch spurs traditional lenders like banks to the sidelines"
Wall Street Journal -July 16, 2008
You Can Now Earn a Secured Fixed Income of
15% to 20% Annually, 1.25% to 1.667% Monthly!
For Individuals, Corporations
and Retirement Accounts.
LendSecured.com is a Costa Rican corporation set up to bring together lenders seeking high but secured returns and Developers with substantial equity seeking capital.
HIGHLIGHTS
- Either alone or as part of a group, you lend money secured by real property in Costa Rica
- We target properties with LTVs (loan to values ) of 10% -50%
- Legal work will be done by the experienced legal team of Ferris and Ferris in San Jose, Costa Rica to verify that the property conforms to strict lending policies.
THE PROCESS
- The Credit Committee of LendSecured.com will reviewvthe properties to make sure that the subject property conforms to the Lending Guidelines.
- Key Elements of the Lending Guidelines are:
- Strong Equity Value
- At or before closing property will be free of all encumbrances
- Ability to retire the debt
- You will be personally notified that your funds will be needed
- The funding date will follow in approximately 1 to 2 weeks
- THE PROPERTY WILL BE PUT IN A TRUST ACCT WITH YOUR ATTORNEY AS THE TRUSTEE AND WITH YOU AS THE BENIFICIARY
RETURN ON INVESTMENT
- 1.25% to 1.667% to be paid monthly.
- Upon final payoff of the loan you will receive your principal plus any accrued interest.
IN CASE OF BORROWER DEFAULT
Our clients have substantial equity, therefore minimizing the risk of default. In such case, Costa Rica law allows for immediate transfer of property, of which case it can be sold. Therein a borrower's default is unlikely. In the event of a default the following will occur:
- Since the property is held in a trust on behalf of you, the Lender, under Costa Rica real estate law the property may immidiately be taken over, usually with in 10 days after a default occurs.
- Because of the low LTV going in, the property will be priced for a quick sale or auction
Our goal is to avoid this type of situation, however, in the case of a default, we will sell the property and the net profits from any default sales will be split 75/25 between LendSecured.com and you, the Lender.