What is a hard money loan?
Many lenders focus on credit scores and history in determining whether to lend money to a borrower to protect themselves from the potential for loss. This means that individuals with a poor credit history tend to have a hard time getting new credit.
Answer and Explanation:
A hard money loan is a loan based on the value of the collateral.
Unlike a mortgage or secured loan with collateral where banks issue them because...
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from Financial Accounting: Help and ReviewChapter 1 / Lesson 21