As the COVID-19 pandemic took hold, the mortgage and private lending sector feared that delinquencies would increase and trigger widespread default. Despite reports from Q2 2021 showing delinquencies receding from pandemic highs, many lenders are re-evaluating credit policies and are requiring existing commercial and investment properties to refinance into new mortgages.

This shift will undoubtedly leave some borrowers, who’s credit worthiness has also been affected by the pandemic, unfinanceable and in need of a new solution. Bridge/hard money lending provides an excellent opportunity for borrowers to get back on their feet before securing more favorable long-term financing.

Click to read: Mortgage Delinquencies Shrink in Q2