Kennedy Funding Ripoff Report What YouNeed toKnow

Kennedy Funding is a household name in the arena of the undertakings of a privately lending kind, and its solutions are swift and adaptable. Known both by reputation and by detractors, the company specializes in bridge loans and other real estate lending. Issues that also pop up in queries on the Internet include things like the Kennedy Funding Ripoff Report. However, you may want to know what this means and whether you as a potential borrower should be worried.

What the Concern is About

Ripoff report is usually used to describe a complaint or negative posting on the internet by a person who has borrowed money or a person who has dealt with a firm. Some of the users in the case of Kennedy Funding have been agitated by issues such as:

• Appendix charges are not Non-refundable charges.
• Failure to close deals after the time of approval
• Inaccuracy or unclarity of  the terms on loan

Those kinds of issues do not specifically relate to Kennedy Funding but are often characteristic of all private or hard-money lending in general. As opposed to traditional banks, however, the private lenders tend to be quick and demand fewer formal qualifications and early fee payment under which the borrowers come.

The Process of Private Lending How Does Private Lending work How does Private Lending work?

In order to get the idea of nature of the complaints it should be noted how companies such as the Kennedy Funding work:

• Fast compared to bureaucracy – The approval of loans can be done within days as opposed to weeks.
• Asset-based lending Asset-based lending is based on more on collateral value as compared to credit history.
• Greater risk, greater cost- The rate of interest and other charges is usually higher compared to traditional bank lending.
• The costs of due diligence – It is usual to have appraisal fees, the legal and underwriting fees paid in advance and non-refundable.

Such are industry-standard practices that borrowers can be surprised with as long as these practices are not outlined in the expectations.

Are the Complaints Legitimate?

Online, some people might leave bad posts; however, it is necessary to be skeptical about such posts:

• Was it a rejection of the loan because of property valuation or risk factors?
• Did the terms of the first letter of intent list it clearly?
• Have the borrower agreements been read before the payments of the fees?

Frequently, the complaints are based on errors and expectations that have not been presented with the truthful actions. Nonetheless, preparation and assessment of a variety of documents, the provision of exhaustive questions, and a clear comprehension of the costs of availing the services of a personal lender are essential to any borrower.

Borrower Best Practices

When planning to work with the Kennedy Funding or any other non bank lender, here are some of the helpful hints:

Ask questions: Clear all the condition, fees, and TAT.

Get familiar with non-refundable fees: Inquire on the purpose of what you are paying and why items attract them.

Have a plan to get out: Bridge loans are temporary. Ensure to have a plan on how to repay not forgetting refinance.

Everything is in the small print: Never sign anything without reading the small print.

The private loans may also prove beneficial to an investor but he or she should understand the mechanism.

Final Thoughts

The term Kennedy Funding Ripoff Report is something people may have their antennae up about, and in most instances, the term may be citizens catering to industry standard rather than any wrongdoing. Some have already recounted their because it is frustrating when dealing with some of the borrowers but others have reported the firm as responsive, quick to disperse loans that mainstream banks would not even have dreamed about touching.

Just like every other financial decision, due diligence is a must. By being well informed about how the process of lending in a private arrangement is done, you will also be working to eliminate surprises and that the deal which you had entered into can strike a good balance that matches your financial plans.