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What else can I help you with?
Can you change your loan from a hard money loan back to a convetional loan?
refinance the hard money loan back to a conventional bank loan
What are the benefits and risks associated with a home equity release loan?
A home equity release loan can provide benefits such as access to a large sum of money for expenses or investments. However, it also carries risks like potentially losing ownership of your home if you are unable to repay the loan.
What do you need to know about hard money loan?
a hard money loan requires a fairly high up front fee, and has a high interest rate.
How do you use hard money in a sentence?
The investor gave hard money to the farmers. Hard money is a type of loan given by private contractors.
What is a private hard money lender?
A Private hard money lender is what is considered to be a loan shark. This should be your very last resort in obtaining a loan. It is a very risky entitity to get involved with a loan shark.
What is meant be commercial hard money loans?
Commercial hard money loan is a type of private funding for the people who need immediate finance to buy a property or close a land deal. Hard Money Commercial Loans is of great help for the people who are unable to meet the standard banking criteria, but has real estate and or assets that are sufficient to collateralize the loan to the investors/lenders.
What is a hard money loan?
A hard money loan is a "Specific type of loan where a borrower takes funds based on the value of undeveloped real estate. Hard money loans are usually issued at higher interest rates than commercial mortgages." according to sites like http://www.hardmoneyworldwide.com/
What do hard money lenders do?
A hard money lender is the person who offers you money loan which is actually an asset-based loan financing. The process is usually about the borrower acquiring funds that are secured by real property.
What are the risks associated with taking out loans using a car as security?
The risks of using a car as security for a loan include the possibility of losing the car if you are unable to repay the loan, potential damage to your credit score if you default on the loan, and the risk of paying high interest rates.
How much higher is the interest rate from a hard money lender if you can't get a loan from a traditional bank?
The interest rate on a hard money loan is substantially higher than that of a traditional bank loan because they do not conform to the traditional banking standards. Hard money loans tend to be used for short term uses from real estate investors who plan to not carry the loan for very long.
What are the responsibilities and potential risks associated with being a cosigner for a loan?
As a cosigner for a loan, you are responsible for repaying the loan if the primary borrower fails to do so. This can impact your credit score and financial stability. Additionally, if the borrower defaults on the loan, you may be pursued by the lender for payment. It is important to carefully consider the risks before agreeing to be a cosigner.
How can you find an investor to loan you money for a house?
look for private money lenders or hard money lenders on the internet.
