Bel Air North, MD hard money lenders have operated in this state of Maryland for years and years. Specifically, the city of Bel Air North. Bel Air North is a city of just about 30,000. (It’s no Baltimore!) The city has a population density of about 1,500 people per square mile. The city’s immediately north of Bel Air proper, and a part of Hartford County.
Bel Air North, MD hard money lenders do a good thing in Maryland. They’re providing financing and capitalization avenues for folks that don’t have very good credit scores. And how they’re able to do this, is a bit like how secured credit cards work. See, with a secured credit card, you’re extended a line of credit, without very much fuss over how good or bad your credit score is. Why is that? How are lenders able to do this?
They’re able to do this, they’re able to justify this, by having the borrower secure the loan by some sort of collateral. With the secured credit card, we’re talking about cash, as collateral. With Bel Air North hard money, we’re going to be dealing with “hard” assets, as in real estate. That’s right. In order for you to work with any of these hard money lenders in Bel Air North, you’re going to have to have real estate, some real estate to speak of. You’re going to have to put this real estate up as collateral to the loan, in order to get this residential hard money secured for the lender.