are hard money loans safe
Randy Mosley
Asked: 2018-03-25 06:32:57
A really A really good premises has become available that I’d like to buy for my business but I simply don’t have the cash right now. Someone recommended that I get a hard money loan but I’m wondering how safe it is?good premises has become available that I’d like to buy for my business but I simply don’t have the cash right now. Someone recommended that I get a hard money loan but I’m wondering how safe it is?
17
Rukhsar Mccullough
Answered: 2018-03-26 09:54:28
They’re safe in terms of regulations, but their underwriting differs to normal loans. Just check the terms and make sure it’s an approved hard money lender and all should be well.
6
Ted Christie
Answered: 2018-03-27 04:54:24
It’s always best to strike while the iron is hot. Hard money loans are different to normal bank loans, but yes, they are subject to regulations so it’s not a bad gamble unless you can’t pay it off.
3
Taran Wainwright
Answered: 2018-03-25 19:57:55
It depends on how you look at it – if you are seriously putting your business in jeopardy by putting the collateral up for the hard loan and you aren’t sure you’ll be able to pay it out, then it’s not safe, but if you are confident that you can pay it back, then it is.
2
Arwel Tang
Answered: 2018-03-26 06:24:18
