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If you've never heard of rapper/producer "The Hard Money Lender," don't worry, neither have we.
Santa Rosa, CA, July 24, 2010 -- If you've never heard of rapper/producer "The Hard Money Lender," ( http://www.ourfundsonline.com ) don't worry, neither have we.
But his days ballin' as a Los Angeles rap mogul may have come to an end since federal authorities are ordering him to turn over about $25 million worth of assets they say were acquired through an elaborate, drug-trafficking operation authorities believe spanned nearly a decade.
On Friday, an indictment was unsealed alleging that "The Lender," a.k.a. 34-year-old Rickey Lamont Colley, Jr, a.k.a. "Mr. Rikk," and five others were behind a drug-trafficking ring that moved more than 34 tons of weed from Phoenix to places like Los Angeles, Michigan, and Georgia over a nine-year period.
"This individual portrayed himself as a legitimate music producer, but this investigation revealed much more about his industry: criminal enterprise that sold poison and addiction," says DEA Special Agent in Charge Elizabeth Kempshall.
"Poison and addiction?" It was weed, lady, not meth.
The indictment alleges Colley, along with Anthony Eugene Jackson, 42, of Mableton, Georgia, Genairo Eline Higgins, 33, of Alpharetta, Georgia, Sylvester Demetrius Thomas, 39, of Detroit, Michigan, and Michael Lee White, 44, of Ontario, California, ( http://www.ourfundsonline.com ) used tractor-trailers to haul weed from Phoenix to the various locations across the country.
Aside from the possibility of getting locked up for the rest of their lives, federal authorities already have seized about $1.6 million in cash and intend to seize an additional $23.4 million in cash and other gangsta goodies, like $330,000 in bling, a 2007 Ferrari Scaglietti worth approximately $350,000, a 2006 Saleen Mustang worth approximately $70,000, a 2011 Jaguar worth approximately $140,000, a 2006 Maserati Quattroporte worth approximately $120,000, a 2003 Range Rover worth approximately $60,000, a 2002 Mercedes G500 worth approximately $80,000, a custom luxury van worth approximately $100,000, $200,000 in shares of stock in a cruise line company, and two houses and a condominium in Georgia.
Now lets get to some back to some serious legitimate business
In the current real estate market that is changing quickly as it faces a major credit crunch, mortgage brokers and real estate agents can exhale that breath they are holding. The corporate managers at http://www.ourfundsonline.com have decided that we are going to again be the trend setter ...the ones that set the industry standard and in doing so we have decided that we will begin lending up to 70% loan to value and 75% loan to cost on loans that are located in our home state of California. We have decided that the fundamentals of real estate remain healthy.
We have decided that enough is enough and that we are sick and tired of seeing home owners lose their homes to the big banks .However we also realize that borrowers will not escape unscathed. "Tighter credit conditions will limit individuals from putting larger down payments on real estate investment deals moving forward .So we also want to step up and fill the gap and keep those of you who are looking at purchasing deals moving forward. So the question to us was - How? With the alternative, short term high-interest loans known in the business as Hard Money loans.
We will not only allow those that need to save their home less equity to qualify but on the other end we will also be willing to accept a 5 %.less down payment on our purchase loans and in doing so raising our across the board loan to value to 70% LTV. So with that being said we encourage all of you brokers to pull those dead files out from beneath the trash can as well as all you borrower who have been recently been turned down by your current mortgage banker because your appraisal came in to low and contact us on our 24 hour emergency cell phone number #310-984-0496 or on the toll free line 1-877-870-2676 as well as submitting your loans online at http://www.ourfundsonline.com you have my word we will do all that it takes to change the horrible real estate environment we are in.
The recession's taken a toll on banks. Banks are freezing up credit markets and tightening up on lending practices. The effects of this on the economy are compounded by the fact that the median credit score has dropped considerably. This has resulted in a large number of borrowers that do not qualify for traditional debt products in the U.S. Often, these borrowers are also facing foreclosures and have other sorts of arrears. And yet, these same borrowers do have financing requirements and demands. And though there are bits of information for these borrowers, about where to go to secure funding and financing, the information is fragmented and scattered all over the web. http://Ourfundsonline.com was established to provide to borrowers of distressed financial situations the most convenient and comprehensive information on loans and other debt products on the web, which can be used to begin the process of moving forward.
Hard money debt products are ideal for borrowers of distressed financial situations, because the risks stemming from the borrower's poor credit history, are alleviated on the side the lender's. The risks are alleviated largely through the securitization of the debt through collateral, specifically a hard asset. A hard asset is real estate loan that is funded by a hard money lender.
When a borrower inquires with a hard lender about a particular loan product, the lender will require an appraisal of the property's so called quick-sale value. This value is lower than the market value of the property, and is meant to cushion the lender in the case of foreclosure (and the lender needing to sell the property right away).
Although the interest rates are higher on these debt products, and the loan to value ratios much lower, hard money does make for one of the only options available to a borrower that has a poor credit and a generally distressed financial situation.
With all of our loan products they are all based upon the equity and the conditon of the property.it's advised to all borrowers that when you are considering entering into an agreement with a lender of hard money you should make sure that one they are experienced and two have the team and resources together to fund your loan in the quickest amount of time possible as these funds are usually used to either save a home that is during a re-finance or to pick up a great deal in a short sale or foreclosure.
http://Ourfundsonline.com provides all of this information about hard money loans to borrowers, and breaks the information down into morsels that are specific to the city. It's the most comprehensive, most efficient layout of a website on hard money on the web today.
Press Contact:
Jeffrey Martino Young
OurFundsOnline.com
1585 Terrace Way
Santa Rosa, CA 95404
Mob: (310) 984-0496
Tel: (877) 870-2676
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http://www.ourfundsonline.com
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