14 Options to prevent foreclosure
Private or Hard Money Loan
Get a fast loan from a private lender based on your home's equity not your credit score.
Use Your Home’s Equity to Stop Foreclosure—Fast, No Credit Check Needed
What Is a Private or Hard Money Loan?
A private (or “hard money”) loan is a short-term, high-speed real estate loan based primarily on the equity in your property, not your credit or income. These loans come from private investors or companies, not traditional banks.
Hard money loans are ideal when you’re in urgent need of cash to reinstate your mortgage or stop a foreclosure sale and don’t have time or ability to qualify for a traditional refinance.
Who Should Consider a Hard Money Loan?
This option is ideal for:
- Homeowners with 25%+ equity in their home
- People who need to stop foreclosure in less than 14 days
- Borrowers who’ve been denied by banks due to credit, income, or time constraints
- Investors or homeowners looking to buy time to sell or refinance later
How It Works: Step-by-Step
- Quick evaluation of your property’s equity and mortgage balance
- Private lender provides a loan proposal within 24–48 hours
- You sign the agreement and provide a few required documents (ID, mortgage statement)
- The new loan funds in as little as 3–7 days
- Loan proceeds are used to reinstate your mortgage or pay off foreclosure
- You make monthly interest-only payments while preparing for sale, refinance, or other long-term solution
Benefits of Hard Money Loans
- Fast approval and funding—many close in under 7 days
- No credit score or income required
- Lender cares only about the property’s equity and condition
- Can stop foreclosure with hours to spare in many cases
- Gives you time to sell or refinance later under better terms
Considerations & Risks
- Interest rates are higher than traditional loans (often 9%–13%)
- Short-term (usually 6–24 months)
- Monthly payments are interest-only, and you must repay the full balance at the end
- Must have a clear exit strategy: sell, refinance, inheritance, etc.
What You’ll Need to Apply
- Current mortgage statement
- Home value estimate (Zillow, Realtor, or appraisal)
- Payoff amount or foreclosure date
- Copy of ID and signed disclosures
- Ability to show clear title or resolve issues quickly
Timeline
- Application to funding: as fast as 3–10 days
- Quote turnaround: 24–48 hours
- Great for homes with auction dates within 1–2 weeks
Real Example
Tony had $450,000 in equity but was 3 weeks away from foreclosure. His bank had denied a refinance due to past late payments. With our help, he secured a $125,000 hard money loan in 6 days. The foreclosure was canceled, and he later sold the home, paid off the loan, and walked away with over $300,000.
Frequently Asked Questions
Q: Can I get a hard money loan with bad credit or recent foreclosure filings?
🅰️ Yes. These loans are based on equity, not credit.
Q: Do I need a job to qualify?
🅰️ No. No income verification is required. However, you will need to make monthly interest-only payments.
Q: What if I don’t want a long-term loan?
🅰️ These are bridge loans. Most borrowers sell or refinance within 6–12 months.
Need a Fast Equity Loan to Stop Foreclosure?
We work with trusted private lenders across the country and can:
- Get quotes within 48 hours
- Coordinate funding before auction dates
- Use your home’s equity—not your credit—to qualify
- Help you plan a clean exit: refinance or sell later