Loans: Collateralized or Roll-Overs ... which to choose?

[Melissa B.]

Hello,

I'm new to tax/mortgage surplus funds retrievals, and have been in contact with a homeowner who is willing to work with me. The problem is ... I need funds (but only for the buyout portion of the deal, and she's agreed to certain percentages). There might be other states added, soon or down the road.

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

What are the pros and cons of each, and which offers the least restrictions, flexibility and cost savings for my intended purposes?

Have a good weekend,

Melissa B.