Borrower Success Stories
Building a high-end home can be an exciting yet challenging endeavor. A couple in Portland, Oregon, discovered this when they ran into financial trouble midway through constructing their luxury home.
Despite having a solid financial track record, they ran out of money and needed a loan to finish the project. Unfortunately, their bank denied their request, citing the risks of mechanic’s and labor liens associated with properties under active construction. The couple faced the potential of their dream home remaining half-finished.
Traditional banks operate under strict regulations that often prevent them from financing construction in progress, even for qualified borrowers. That’s where private hard money lenders come in. Unlike conventional lenders, we have the flexibility to consider unique investment situations without the burden of rigid guidelines.
Other Borrower Success Stories
When this couple contacted our Oregon lending team at Gregory M. Russell, we reviewed their meticulously kept records of construction expenses and progress. Their organization and transparency gave us the confidence to move forward with financing, allowing them to resume work on their home.
Hard money lending focuses on the value of the asset and the borrower’s ability to manage the project, rather than strict regulatory requirements. We assessed their documentation, recognized the potential in their project, and approved funds to complete construction.
Our loan became the difference between an unfinished dream and a completed home. This story highlights why real estate investors and homeowners should consider hard money loans when conventional lenders say no. Whether it’s a mid-construction project or a unique financial challenge, Oregon private money lenders like Gregory M. Russell can provide solutions to overcome obstacles and keep dreams on track.