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There can always be times when someone has looked for finance and then submitted an application for it. That person may then be interested to know what happens next during the process. They may be curious as to what kind of information they enter into the application and then how the lender they have applied reaches their decision as to whether they will lend to someone to decline their application.
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With regulations becoming stronger each day, what are the situations in which online or conventional direct lender loans have an upper hand over the other?
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There is an alternative option of bank loan which name is hard money loan. It is also calling the last resort of finance. Anybody can get loan from hard money lenders whatever even he have been disqualified from banks. Hard money lenders are not asking for credit and income information to approve any loan. Anybody can get loan from verified hard money lenders even his income information is not verified. Hard money loan is a kind of loan where property value is playing the leading role to approving loan. One can get up to 70% LTV of his property. Although institutional lenders or conventional lenders are providing more than hard money lenders but they will not approve your loan with low credit score and with unverified income information.