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What should a real estate investor look for in a hard money lender?
Wiki User
∙ 14y ago
You will want to look for the lowest possible rate and the longest possible term.
Wiki User
∙ 14y ago
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Who is legally responsible for a mortgage after death?
The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.
What is the difference between investor and creditor?
A person who invests money in order to make a profit is an investor. A creditor is lender of the funds, to whom someone owes a loan.
Is the Hard Money lender the same as a Real Estate Lender?
No, banks can issue real estate loans and mortgages but Hard Money Lenders usually have higher interest rates. Hard Money Lending should always be a last resort given their higher interest rate and lower loan to value rates
Explain the difference between an investor and a creditor of a business?
A person who invests money in order to make a profit is an investor. A creditor is lender of the funds, to whom someone owes a loan.
Who is a lender?
A person or company that loans money and takes a security interest in real property.The lender can provide more than just real estate loans, but it is referred to as the mortgage lender when someone is talking about a real estate loan.
When people take out a mortgage they must pay back the money?
Yes. The money must be paid back to the lender. If not paid back then lender can take possession of the real estate and sell it.
What is a "Hard Money Lender"?
A hard money lender loans money with real estate as collateral. The rates tend to be higher than a mortgage because the loans are usually made to people in serious financial trouble.
Take out equity on life estate?
It is unlikely a lender would advance any money to you on your life estate. If you died the life estate would be extinguished and the lender would have nothing. The most valuable aspect of a life estate is your use of it during your lifetime. Therefore, it's valuable to you but no one else.
When you pay off a mortgage do you get the money that is escrow?
Yes. The lender should send you a refund for any funds remaining in your escrow account unless it uses that money to pay a pending real estate tax bill. It's your money.
Find a Hard Money Lender?
form_title=Find a Hard Money Lender form_header=Use real estate as collateral for a short-term loan. What is the amount that you are seeking for a loan?=_ What type of property do you have?=_ Do you have any prior experience investing in distressed real estate assets?= () Yes () No
What was Ebenezer Scrooge's job?
Ebenezer Scrooge was a moneylender and a wealthy businessman in Charles Dickens' novella "A Christmas Carol." He was a miserly character who prioritized profit and wealth above all else.
What is the definition of leaverage?
Used in investment and real estate as a method to increase profits with borrow money. A real estate investor uses leverage to profit from investing in renovated homes.
