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Updated over 12 years ago on . Most recent reply

User Stats

42
Posts
10
Votes
Perry L.
  • Investor
  • SAN FRANCISCO, CA
10
Votes |
42
Posts

Lend to a corporation

Perry L.
  • Investor
  • SAN FRANCISCO, CA
Posted

I am making a private loan to a corporation(contractor) secured by a 2nd deed of trust. It is a 6 month rehab project. What documents should I require from the borrower? Can I go after corporation's assets if the borrower is in default? In this particular transaction, 1st deed is a hard money lender covering 70% of the purchase price. I cover the balance of the purchase price plus closing cost plus 15K for construction cost held in escrow for mile stone release.

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