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what is a hard money lender

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A fractionalized hard money loan or fractionalized trust deed is one where multiple investors pool their money to make up the loan amount. If a loan defaults and you’re the only lender, you’re going to be responsible for handling the entire default and collections process.

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Hard money loans, also known as bridge loans, are often used by property investors who need quick financing for their fix and flip projects. These loans usually have a 6-12-months term and typically cannot be extended to more than a five-year term.

There are many types of money lenders. To understand "what is a hard money lender," it’s important to know what a hard money loan is: It’s simply a short-term loan secured by real estate.

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2013-08-01  · Best Answer: a hard money lender on the "local " level will generally grant you as borrower a loan for 180 to 270 days secured by a lien against.

A hard money lender is any individual or group of individuals that loan their own money privately on a short-term basis and secure their investment with real property. Let’s break this down a bit further:

Private hard money lenders are the most important people to establish a relationship with in the real estate industry – at least if you want to run a sustainable business. Whether you are a new real estate investor or a seasoned veteran, chances are you will want to scale your business sooner rather than later.

current fha mortgage interest rate Fixed-rate mortgage – Wikipedia – A fixed-rate mortgage (FRM), often referred to as a "vanilla wafer" mortgage loan, is a fully amortizing mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float". As a result, payment amounts and the duration of the loan are fixed and the person who is responsible for paying back the loan.

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