A hard money loan is a short term, non-conforming loan for investment or commercial properties that does not come from a traditional lender but rather a person or private company. The hard money lender accepts the real estate as collateral. Hard money loans are characterized...
Mae owns a house, and she has fallen behind on her mortgage payments. Her lender states that she owes $165,000, and the amount she could pay to make the loan current is $15,000. The monthly mortgage payment is $1,000. The house needs about $10,000 of...
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