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How Hard Money Loans Can Help Your REI Business

by carzmae on Oct 28, 2009

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Requirements When Applying For Hard Money Loans

by Daniel Mc Grey

Hard money loans are loans offered by hard money lenders. In some ways, they are thesame as conventional commercial loans although they do not havestringent processes like banks and other traditional bankinginstitutions. Hard money loans are based on the asset offered ascollateral. Because of this, hard money lenders become less concernedwith credit reports or monthly income. Instead, their main concernfalls on the property itself. With hard money loans, the loan amountdoes not exceed more than 50 to 60% of the property value. Anindependent appraiser determines the value of the property....

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