The Truth about Hard Money Loans - Real Talk USA talks Hard Money
Hard money is an option for some home buyers, depending on their financial situation and their current credit rating as well. Hard Money lenders will cost the consumer more interest and the rate of pay is a shorter amount of time, typically 90 days or so. When the loan is due, its called a "Balloon Payment" and if the borrower (Buyer) Cannot pay the loan back, the hard money lender (company) will take the asset and sell to recover the costs of lending the buyer the funds and make as much profit as possible. Geoff Ball of Applewood Funding was a guest on Real Talk USA as he is a Hard Money Expert in the Valley of the Sun. To learn more about Hard Money, the ins and out or Pro's and Con's, visit Real Talk USA, watch other video segments, listen to our past show podcast or simply use the contact me link and send us your question. Hard Money isn't for everyone, but sometimes its what is needed to get the deal done.
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