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Updated almost 6 years ago,

User Stats

134
Posts
43
Votes
Lisa Misuraca
  • Tucson, Az
43
Votes |
134
Posts

Hard money question about collateral

Lisa Misuraca
  • Tucson, Az
Posted

My hard money lender is uncomfortable using the property purchased as collateral, if I use another property I own outright

As the collateral she’s only entitled  to the amount of my debt to her,right? In other words if my property is worth say 250,000 her lien would only be on the amount borrowed plus interest charged say 160,000. I’m worried that she could try to take the whole property if any unfortunate problems arise.Thank You...

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