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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: i understand both sides Posted by CC in OC on April 19, 2008 at 9:53 AM In Reply to: i understand both sides posted by hard money lender on April 17, 2008 at 7:20 PM **for most banks, they dont even understand them - certainly not the loan agent.** The reason banks don't lend to trusts is for precisely the reason you gave: all trusts are different; some well written and some not. The bank can't afford to send the trust agreement to its legal department for every borrower who uses a trust to buy property. It's not that banks don't understand trusts. It's that banks, in the name of efficiency and not to spend excessive man hours reading trusts--some of them are 100+ pages long--simply say "no" to trusts. Follow Ups: Re: i understand both sides hard money lender 6:25 PM, 04/19/08 (3) Not really. CC in OC 6:58 PM, 04/19/08 (2) Re: Not really. hard money lender 7:13 PM, 04/19/08 (1) Have it your way. CC in OC 12:20 AM, 04/20/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : **for most banks, they dont even understand them - certainly not the loan agent.** : The reason banks don't lend to trusts is for precisely the reason you gave: all trusts are different; some well written and some not. : The bank can't afford to send the trust agreement to its legal department for every borrower who uses a trust to buy property. : It's not that banks don't understand trusts. It's that banks, in the name of efficiency and not to spend excessive man hours reading trusts--some of them are 100+ pages long--simply say "no" to trusts. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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