We Guarantee Loans

We Help People Buy Homes and Other Real Estate


WeGuaranteeLoans.com
a California Corporation

Application for Guarantee Loan Guarantee
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WeGuaranteeLoans.com provides written guarantees to real estate lenders so that borrowers can get the money they need when they need it. Our guarantee program reduces the risk to lenders at no cost to them, giving lenders the incentive to approve home loan and other loan applications fast.

The program is simple.

Our Guarantee

What Does it Cost the Borrower?

How Does it Work?

How We Use the Funds Paid

Who is WeGuaranteeLoans.com?

WeGuaranteeLoans.com is a California Corporation that maintains a minimum of $500,000 of securities that can be converted into cash. The stockholders include the lawfirm of Michael T. Chulak & Associates and attorney Michael Chulak. We are not an insurance company, escrow company, trust company, or financial advisor.

Is it Safe?

The shareholders of WeGuaranteeLoans.com have invested securities worth at least $500,000 into the company which serves as a substantial reserve. The funds received are invested in safe, liquid investments that provide a constant cash flow, and the firm has a back-up line of credit for $100,000 from the lawfirm of Michael T. Chulak & Associates.

Why Do Lenders Like the Program?

The program guarantees up to 6 months of loan payments upon a default by the Borrower which provides cash flow while the lender seeks an appropriate remedy. It effectively reduces their loan to value ratio and the possibility of sustaining a loss. Lenders should love the program because collecting from us is as easy as sending us a form. Many lenders will count the 4 to 6 months payment as required reserves required by their underwriting guidelines. This makes it easier to close loans.


Example Transaction

Questions and Answers

Q. Do we pay you a fee if we are not approved for a loan?
A. Absolutely not. You are obligated to pay us only when your loan is approved.

Q. Why can't a friend or relative cosign for me?
A. They can if they are willing to accept the consequences. Most people prefer not to sign loan guarantees or cosign loans because it will negatively effect their own credit rating and could result in a substantial financial loss if the borrower defaults on the loan or files for bankruptcy.

Q. What types of loans do you guarantee?
A. All types of real estate loans, loans to homeowner associations, and other loans that have a due date of at least 5 years. Contact us with any questions.

Q. In what areas will you guarantee loans?
A. Anywhere in California.

Q. Who are the types of people that use your service?
A. People with low FICO scores, young people with little credit history, foreign borrowers, and people with marginal income to debt ratios.

Q. Can you guarantee FHA loans?
A. No. Unfortunately, the government requires a blood relative or substantial relationship to be a cosigner on FHA loans.


Private Money - Hard money

Lenders and Brokers

Make your loans easier to sell to investors by making them safer. Private money lenders understand the fees earned on each loan sold depend on more than the note rate. When buyers in the secondary loan market perceive a loan to carry a high risk, the required yield increases and the fees to the seller decrease. When buyers in the secondary loan market perceive a loan to be safe, the yield requirement decreases and the fees retained by the seller increase. You can increase the net fees you earn on each loan sold and make them easier to sell by utilizing the service provided by WeGuaranteeLoans.com. Our service costs you nothing since the cost is paid by the borrower.

The Dangers of Co-Signing or Guaranteeing a Loan

Most people like to be helpful especially when it involves friends or relatives and often people are asked to co-sign loan documents or guarantee a loan for another person. The decision to co-sign or guarantee a loan should be considered very carefully because the risk may be very high, and if the borrower defaults, the consequences can be financially catastrophic.

The concept is quite simple. When a bank or other lender decides that a loan applicant is not credit worthy, the lender may suggest that the loan can be made if the applicant is able to convince a credit worthy individual to co-sign the loan documents or guarantee the loan. This means the lender is relying on the co-signer or guarantor, not the original loan applicant. In short, the lender does not have confidence that the original loan applicant can or will repay the loan.

Under federal law, when a person decides to guarantee a loan that a professional lender would not otherwise make, the lender must provide the prospective guarantor with the following notice before the guarantor signs the required guarantee agreement:

Notice

You are being asked to guarantee a debt. Think carefully before you do. If the borrower does not pay the debt, you will have to. Be sure you can afford to pay if you have to, and that you want to accept this responsibility.

You may have to pay up to the full amount of the debt if the borrower does not pay. You may also have to pay late fees or collection costs, which increase this amount.

The creditor can collect this debt from you without first trying to collect from the borrower. The creditor can use the same collection methods against you that can be used against the borrower, such as suing you, garnishing your wages, etc. If this debt is ever in default, that fact may become a part of your credit record.

This notice is not the contract that makes you liable for the debt.

While not all guarantee contracts are the same, they are similar and generally make the guarantor fully responsible for the repayment of the loan. Prospective guarantors and co-signers should consider the following:

Before you consider co-signing loan documents or providing a personal guarantee, consider the alternative of suggesting the service provided by WeGuaranteeLoans.com. You will sleep better at night knowing that you and your family are not at risk.



WeGuaranteeLoans.com

Michael T. Chulak
President