Hard money lenders are lenders with less regulations than traditional lenders (banks) and they can help the borrowers with their investments more efficiently than banks.

Brick is the most pretty choice, but also the most expensive.

In your post you say that Trump assumed the loan when he bought the property but mention in your next sentence that the bank didn't know about it.This means that Trump bought the house "subject to" the existing deed of trust without the bank's permission.When a person "assumes" a loan, they are getting permission from the lender to step into the borrower's shoes to take over the loan. 

If borrowing money is in the plan that may also affect your decision. 

I understand I have to pay them back the money I borrowed, plus the interest rate.

We know pretty quickly how good our choice was, and I always go back to my screening criteria to see what I could change to screen that person out in the future.Before move in, here are some soft things to look for:- If someone is calling you every two hours asking for an update, being pushy, or taking up a lot of your time, that will not change after move in.- Ask them, in person or on the application, why they are moving.  

I certainly did not, and neither did the mortgage lender who  pre-qualified me.After closing on the HELOC  this week, I was reading through the docs last night and stumbled upon the Occupancy clause :"Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control"So I'm not sure what to do.  

No matter your choice, SOMEONE must regularly inspect to make sure your property is not being abused.

If you are seeking borrowers who cannot qualify for conventional financing you may run afoul of the predatory lending rules and get the attention of the CFPB.

One guy borrows with a 30 year amortization, another with a 25 year amortization.