Finding hard money before the wholesaling deal

[Israel Saldana]

hey,

My name is Israel and I was wanted to get some clarification about applying for hard money lending. My question is if I all other exit strategies fail and I have to go to a hml, would I have to give them some type of packet with the comps and potential profits of the deal? Also to my understanding from what I've been told if you fail to repay them then they keep the property, is that correct?

Thanks in advance for advice

Israel