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14 September 2016 | 11 replies
Never borrow significant amounts of money from a private lender without providing collateral security!
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16 September 2016 | 6 replies
It's my understanding that hard money lenders aren't necessarily the formal businesses you might find online, but simply any person/entity willing to provide a short term loan, collateralized by property, and willing to take (mostly) interest only payments and defer full / majority repayment of the principal upon the term end.
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15 September 2016 | 3 replies
Im willing to use my car as extra collateral on the home, and have 20% to put down.
20 September 2016 | 3 replies
The only reason it is structured as unsecured is if 1) the borrower's net worth is substantial and it's basically a credit card or 2) collateralize funds cannot be secured for a specific reason (such as high volume inventory purchase/sales) but the ave balance stays constant.
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19 September 2016 | 1 reply
I have thought about even putting my cars up as collateral.
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27 September 2016 | 3 replies
However, secured creditors such as a mortgage lender can seek the collateral to satisfy the debt.
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20 September 2016 | 2 replies
My guess is that both properties would be used as collateral since they share the same deed and both you and your in-laws could have to qualify for the loan but this isn't my area of expertise.
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20 September 2016 | 0 replies
What is the best strategy in using my land(debt free) as collateral for my first duplex/triplex opportunity.
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26 September 2016 | 5 replies
The property would already be the collateral but they also on top of that want a personal guarantee.
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24 September 2016 | 3 replies
You might find a private lender, hard money lender or commercial lender to lend to you, but they are likely going to want collateral beyond just the property being mortgaged.