The Damage Hurricane Harvey Causes on Commercial Mortgages in Texas is Still Unclear

Hurricane Harvey brought record-rainfall that led to some of the worst flooding that the country has ever seen. Those in the area are eager to see the damage that Hurricane Harvey left on commercial mortgages in Texas.

Local banks are a little on edge because it is still unclear just how much work is needed to build the area back up after being hit hard by the category 4 hurricane. As of now, it is estimated that tens of millions of properties backed by commercial mortgages in Texas could be at risk and face a long road of recovery.

The Small Business Association has already received a good number of disaster loan requests, leading many to think that more are on their way and that the industry of commercial mortgages in Texas could have been heavily impacted. Not only do businesses have to worry about repairing the property damage caused by Hurricane Harvey, they also are dealing with the loss of income after having to close for so many days during the storm and now during the recovery efforts.

Unfortunately, the area had already been facing issues because Hurricane Harvey tore through southeastern Texas. The state saw a very high vacancy rate at the end of the 2^nd quarter, the worst vacancy rate percentage the state had seen in over 20 years. Because of these struggles before the storm, it could take the area even longer to recover.

Commercial Mortgages in Texas could have been heavily impacted by Hurricane Harvey

The long-term impact of the storm and struggles before Hurricane Harvey could take a lot of time and effort to rebuild. With the flood damage and missing income for a good amount of time, many are in fear of having issues with making a profit. These need for commercial mortgages in Texas could increase due to those needing extra help to get back on their feet.

Some are hoping that commercial mortgages in Texas are the most of the issues when it comes to that industry

The aftermath of Hurricane Harvey may still remain unclear, but some are hopeful that the banking industry will not suffer too much, since they were already seeing issues. The storm lasted for several days in some areas and broke plenty of records. Lenders are fearing late payments will be more common and that this trend will only continue as the area rebuilds from a bad 2^nd financial quarter and now the damages caused by Hurricane Harvey.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Commercial Real Estate Loan in Texas Used to Refinance One of the Most Well Known Buildings in the Heart of Houston

After experiencing the devastation of Hurricane Harvey, some good news comes to the area. The city of Houston is eager to see the changes that will be made to one of their most popular and well-known office buildings in downtown Houston thanks to Holliday Fenoglio Fowler approving a commercial real estate loan in Texas

Located in the heart of downtown’s Houston Theatre District, one of the most recognizable buildings in the Houston skyline and even across the globe is going to be getting a new look, all financed by a commercial real estate loan in Texas funded by Holliday Fenoglio Fowler. The architectural icon is at 700 Louisiana in Houston’s central business district.

The 1.2 million square-foot office is 56 stories and was designed by Phillip Johnson and John Burgee. The building currently homes many law and financial services firms that benefit the Houston community greatly. Luckily, Hurricane Harvey had little impact on the business operations of the building, with all of the businesses in the building is back to their daily activities.

The borrower of the commercial real estate loan in Texas, M-M Properties worked closely with Holliday Fenoglio Fowler in a very detailed process to get the refinancing rolling. The impact of refinancing the well-known building is going to give it a higher property value by sprucing up the lobby and more.

Privately held real estate investment firm gets help with commercial real estate loan in Texas

With M-M Property having their headquarters based in Houston, they know how hard the area was hit by Hurricane Harvey. The property management company is hoping that this is a positive event happening after such a devastating time. M-M Property is an experienced, privately held real estate firm that is located in the heart of Houston.

The commercial real estate loan in Texas lender is eager to see how the changes will improve the area’s value.

After Houston was hit hard by Hurricane Harvey, Holliday Fenoglio Fowler is excited to see the changes that will be made during the renovations to bring the area back to the way it was before the storm rocked the area, causing 18 counties in the state to be declared disaster areas. Holliday Fenoglio Fowlers has 24 offices across the country and is a leader in commercial real estate loans in Texas and throughout the United States along with offering many other financial and marketing services.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Commercial Real Estate Loans in Texas Expected to Rise Due to Hurricane Harvey

Many across the Lone Star State are looking for a helping hand, especially with commercial real estate Loans in Texas, after Hurricane Harvey hit. The hurricane brought record-breaking rain and floods causing 18 counties in the state to be declared disaster areas.

Relief efforts are already underway to rebuild southeastern Texas back up. Many have been impacted ranging from families to businesses to residential areas to commercial areas. A large number of people and businesses are in need of commercial real estate loans in Texas to get back on track after Hurricane Harvey ripped through their area causing not just property damage, but income loss due to being closed during the storm and during the recovery efforts.

Since so many are in need of commercial real estate loans in Texas to be able to start cleaning up the damage that Hurricane Harvey left behind, F.N.B Corporation announced last week that they donated more than $100,000 to relief efforts by the American Red Cross for those not just in Texas, but also those impacted in Florida by Hurricane Irma.

F.N.B. Corporation help not only fundraisers, but also earned donations from a combination of donations from employees and those from the actual corporation. The company went above and beyond to raise funds to help those impacted by recent hurricanes by matching $3 dollars for every dollar raised by their employees.

The need of commercial real estate loans in Texas to get back on feet may grow even more

It is still unclear just how much damage Hurricane Harvey caused, but as Business Insider reported, those at F.N.B Corporation has heard first hand from local banks and lenders just how devastating the damage is. It is going to take more time to fully understand how much damage was brought on by the category 4 storm. Because of this, F.N.B. Corporation’s president and chief executive officer, Vincent J. Delie Jr., is hoping that his company’s generous donation will inspire other to show their kindness and willingness to help those who have been impacted.

F.N.B Corporation doesn’t even offer commercial real estate loans in Texas, but want to help the area in any way that they can.

Even though F.N.B. Corporation doesn’t do commercial real estate loans in Texas, they do offer a full range of commercial banking to the eastern part of the country. They have 400 banking offices across the eastern part of the United States with assets totally $31billion dollars.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Leader in Commercial Real Estate Loans in Texas Lends Helping Hand to Refinance Two Properties in the State

Reported by PR Newswire, Hunt Mortgage Group, top leaders in commercial real estate loans in Texas and across the United States, is helping refinance two properties in Texas. The Freddie Mac affordable multifamily loans total an investment of $205 million dollars.

Both of the commercial real estate loans in Texas are a 7-year loan term that comes with 24 months of interest-only payments, along with a 30-year amortization that start during the third year of the loan.

The first property, Red Hills Villas Apartments, is a garden style multifamily complex that has six building on their property that houses 168 units. The complex is occupied one hundred percent by low income residents located in Round Rock. The total commercial real estate loan in Texas is worth $13.8 million dollars. Red Hills Villas Apartments is hoping to use the money to make changes to the units and add more accommodations to better the living experience of the residents.

Champion Crossing Apartments also received a commercial real estate loan in Texas from Hunt Mortgage Group. The apartment complex is located in San Marcos, Texas and has 156 unites throughout a total of 13 buildings on the property. The loan totals $6.7 millions dollars and is being used to refinance Champion Crossing Apartments along with upgrading many features to deliver a better experience to their residents.

Both borrowers of the commercial real estate loans in Texas are experienced and Hunt Mortgage is eager to see the outcome

Hunt Mortgage Group is excited to lend a helping hand to two borrowers that have plenty of experience in the industry. Hunt Mortgage Group has plenty of experience working with customers like these two, totally $21 billion dollars of assets across the country. The group has 24 locations across the United States with their headquarters based in New York.

Commercial real estate loans in Texas continue to grow in Austin and the city is already seeing the benefits

Both of the locations that received commercial real estate loans in Texas from Hunt Mortgage Group are located near the excelling city of Austin. Red Hills Villas Apartments is only 20 miles north of the city! This gives plenty of shopping access to the residents along with being close by to the top schools in the area and large employment centers. It is a great location for residents, especially those looking to work for companies that deliver high technology services.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Banks Known for Commercial Lending in Texas Reach a Mutual Termination Agreement That Benefits Both Parties

Two top commercial lending in Texas banks have recently terminated their merger agreement that was established at the beginning of this year, on January 23^rd. The mutual termination was needed for bother companies to continue to be successful on their own.

Hope Bancorp, Inc., the holding company for Bank of Hope had reached a merger agreement in January of 2017 with U & I Financial, which is the holding company for UniBank. Just last week, Globe Newswire reported that the two companies entered a mutual termination agreement.

Hope Bancorp, who specialize in commercial lending in Texas, had reported financial weaknesses after the 2016 audits of financial statements. Luckily, they have since made progress to improve and fix these issues in their own financial systems. As stated in the original merger agreement, because of the financial weaknesses found with Hope Bancorp, it has been agreed for the merger to not be complete.

The termination of the merger agreement includes that each party involved is responsible for their own costs and expenses that are associated with the termination transaction. However, this does exclude any fees or penalties that are caused by the actual termination between Hope Bancorp and U & I Financial.

Top commercial lending in Texas bank is eager to bounce back after financial instability

Hope of Bank happens to be the first and also only Korean bank in the country. They have $13.9 billion dollars in total assets and Kevin Kim serves as President and Chief Executive Operator. Kim has expressed his disappointment in the merger not going through, but he agrees this is the best decision for both parties involved. Bank of Hope currently has 64 branches across the United States, including some in Texas who specialize in commercial lending in Texas. They also specialize in other business banking products for small to medium size businesses.

Bank of Hope is trained in commercial lending in Texas and also lends a helping hand to the Small Business Administration

Hurricane Harvey hit the southeastern part of Texas hard just a few weeks ago and the entire area is trying to make progress and rebuild, especially those needing commercial lending in Texas. With the merger, not being completed between Hope Bancorp and U & I Financial, these two establishments are able to focus more of their efforts on helping the area rebuild after Hurricane Harvey damaged 18 counties in the state.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Danger your prized collection is a Hazard

Recently had a call from a borrower who wanted to refinance and pull out cash on their owner occupied home.

Home was 'valued' at 650,000 in north Scottsdale on an 5 Acre Lot.

Currently no loan on the home. Just need $350,000 for brothers medical bills. "We have excellent credit and steady income."

This sounded too good to be true!

I did my preliminary questions and the borrower said: "have been trying to get a loan for quite some time now"

Oh-oh, red flag.

Continued my questioning, and did not understand what the problem was.

Until I Google View the property.

And bingo-bango-bong, I could see what the problem was.

This perfect borrower had 100's of old boats on the lot! In Arizona.

It was his hobby, and he was going to fix them up and sell them one day.

It look like a junk yard, not a home.

But I did not give up. I found a lender that 'would work' with the borrower and was able to close the loan.

Seems like his hobby of collelcting old boats was a problem but we were able to get him a loan.

Owner occupied private hard money loans are available. The rates start around 8% and go up. We were successful and this borrower qualified for a 30 year loan from a private lender.

Now all he has to worry about is fixing up those old boats and selling them. He thinks he is going to get it done some day. Hopefully before the flood.

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444

Technorati Tags: bad credit,home loan with bad credit

Texas Tel:     (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

A Handful of Successful Banks Offering Commercial Lending in Texas Recognized by American Banker

Each year, American Banker are eager to report their list of the Best Places to Work for across America. Some of the top banks who happen to specialize in commercial lending in Texas were named on this year’s 2017 list.

The Lubbock-Avalanche Journal recently reported that several banks with commercial lending in Texas experience in the Lubbock area were on American Banker’s list as one of the American Banker’s Best Places to Work. First Capital Bank of Texas, Peoples Bank, American Bank of Commerce, City Bank, Happy State Bank, First United Bank and Vista Bank were all honored by American Banker.

Banks from all across America were evaluated on a number of different things that included workplace policies, workplace practices and also demographics. Employees were asked to conduct surveys relating to their experience working for the bank. It is important that other banks are encouraged to take note of the winning banks’ policies in hopes that they may be able to adopt similar policies that will help their bank and community thrive.

This year’s ranking happens to be the fifth year for American Banker’s Best Places to Work list. This year, a total of 75 banks from across America were put on the list for 2017. But western Texas happened to have the most banks recognized by American Banker compared to other parts of the country. Texas is home to many banks that offer commercial lending in Texas and the state happens to be a big capital for the market.

American Banker recognizes those with commercial lending in Texas experience to set standards.

For five years, American Banker has recognized the best banks to work for in hopes of promoting a culture of high performance along with positive experiences for all of those involved. American Banker hopes that others can learn from these notable banks that they can learn and adapt a similar culture to improve the experiences of their employees and customers.

Banks hope that being recognized means that they are the real deal in the commercial lending in Texas market.

Banks with commercial lending in Texas experience that were acknowledged were able to properly accommodate employees and all of their needs to feel more appreciated. On top of this, the banks also delivered exceptional customer service while maintaining positive relationships with not just their customers, but also their employees.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage