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Updated over 9 years ago on . Most recent reply

Rose Davis's profile image
Rose Davis's profile image
Rose Davis
  • from Davenport, Iowa
  • Member since Jan 25, 2016

User Stats

78
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6
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Rose Davis's profile image
Rose Davis's profile image
Rose Davis
  • from Davenport, Iowa
  • Member since Jan 25, 2016
Rose Davis
  • Davenport, IA
6
Votes |
78
Posts
General Real Estate Investing

Hard money

Rose Davis
  • Davenport, IA
Posted
If one were to get a hard money loan for a flip and say the term is 5 months and the house doesnt sell, what happens if the borrower cannot pay the loan back? Does it go on credit? Will the lender take the property? Will the lender garnish wages?? What are the other cons other than high interest rate if you cant pay back?
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