Hard Money Lenders and High Risk Lenders
April 19th, 2010
Hard Money Lenders and High Risk Lenders
Done correctly it could be a win-win situation for the hard funds provider and you. The rates are far higher than your local bank : fifteen to 17% is common though, rates can be as high as twenty to 25 percent. The reason why you ask? Hard cash banks often lend for a brief period of time and they lend it to individuals who are in Commercial Loans trouble or for those that are approaching insolvency or foreclosure. Or some other examples might include : The property won’t be totally made, the retail or office space not leased or you may not have the obligatory allows in place and your present note is coming due.
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