Portfolio Lending / Hard Money Lending Advice In Atlanta

[Tim C.]

Hi guys,  

I'm looking to engage some hard money lenders to refinance my portfolio of SFR's that are held in cash (I'm looking to do a loan of $400-$500k on a 30 year fixed rate). I wanted check in with you guys:

1)  What kind of rate can I expect to get on a 30  year fixed for $500k loan?

2) What costs are there involved in closing? (I have on my list 2-3 points, valuation of $500 per property, closing costs of 1%, is this roughly correct)

3) Most importantly I have never done hard money lending only convential.  This may be a stupid question but what happens if I forget to make a payment for say 2 months because my auto payments failed and I forgot to check.  I know a bank will never forclose on me, but will a hard money lender do so?  I'm based in Atlanta and thats where all the properties are.  I'm trying to avoid a situation where a lender can catch me off guard and forclose on me.

Thanks in advance!