Can you cross collateralize or do you have equity hung up in one unit and have to take a loan out to get cash to transfer to another state or bank?  

Second and maybe the bigger hurdle is it hard money lender's lend their money based on collateral.

Cross collateralization with equity in another property.

We are very well connected: Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

If you used several finance companies, then your collateral is tied up and you don’t have easy access to it.

I'm looking for any BP members who have recently used or are currently using a substitute of collateral clause.

6. plit notes – one mortgage and several notes secured by the mortgage – this gives seller/mortgagee, leverage to use those separate notes as down payment on other real estate or sell at a discount, use as collateral or given as cash flow gifts to family members.7.Delayed payment clause - first payment to be within 6 months - gives investor time to do his thing to the property before having to make a payment.Same as above – but as investor and buyer arrange to partner with seller – using the notes to control real estate – seller wins big due to investors advance creative and aggressive method of buying real estate at a discount.

So, having cash, I think it best to secure collateral, and then fund a deal or two!

If this lady is really putting the money into making the house livable she is improving the value of your collateral, an unusual situation for a non performing loan.Maybe she is going to turn the corner and do the last needed repair next week.  

Yeah I would be very careful about this and make sure you understand the consequences should your stocks (collateral) decrease in value enough where they meet a margin requirement, or become less than the LOC itself, you could see the loan called at an inopportune moment.Is there a reason you don't want to liquidate the holdings and simply use cash?