Resetting Your Advanced Filters...
Loan DocumentsThis page has a list of legal firms that provide Legal Documents services to private money and hard money mortgage lenders throughout the United States. This service involves more legal work beyond the preparation of loan docs for a single transaction.
Sorry, your search returned no results.
Eric Feldman & Associates, P.C.
Real Estate & Mortgage Legal Services in Illinois, Indiana, Wisconsin
Private mortgage lenders have to deal with a number of legal documents on any given day. It is important to have everything in writing since verbal agreements are not always valid and can lead to serious issues.
In most cases, lending papers have to be customized according to the terms and conditions of the loan. However, some lenders deal in specific types of loans, such as a standard bridge loan or a rehab fix and flip loan where terms and conditions typically remain the same and only the amount differs.
This gives lenders the option to work with loan document providers.
What Does a Loan Document Company Do?
A loan document company offers loan document templates that the lender can use over and over again on all their loans. They may have one template for a standard bridge loan, another for rehab fix & flip loans, and one for ground-up construction loans.
The process changes from company to company but the main idea remains the same – to provide document templates that can be used by a variety of loan providers.
Working with a loan document provider can help save time and money. Since these documents are prepared by experienced attorneys, they don’t have to be reviewed by lawyers. However, we suggest that you go through the documents before you sign and submit to your clients so that you’re fully aware of what each clause means.
Some companies offer consultancy services and might be able to help you choose the right document type.
What Kind of Documents Can They Prepare?
Loan document providers offer a variety of documents including commercial, rental, construction, residential, lines of credit, and more. It might be a good idea to get in touch with a provider to know more about the kind of documents they offer.
How to Use Documents Prepared by a Loan Document Provider?
Each loan document has specific clauses that the attorney would write up.
When processing a loan, the lender would open the template and just plug in the numbers, dates, etc.
These documents help save time as they remove the need to go to an attorney every time you want to work with a new client. You can pull one out, enter the details, and you’re ready to start the process.
Are These Documents Safe and Legal?
Documents provided by a loan document company are safe and legal to use as they are prepared by an attorney. Most companies draft these documents with respect to the changing lending environment to ensure your rights are protected and taken care of.
However, it is important that you choose a reliable company since not all loan providers are safe to work with.
Our website is a great resource to discover legal firms that create loan document templates for private mortgage lenders. Scroll up and view each company’s profile, then visit their websites to learn more, and contact them directly. Please mention that you found them on PrivateLenderLink.com.