Updated about 7 years ago on . Most recent reply
Hard money question about collateral
My hard money lender is uncomfortable using the property purchased as collateral, if I use another property I own outright
As the collateral she’s only entitled to the amount of my debt to her,right? In other words if my property is worth say 250,000 her lien would only be on the amount borrowed plus interest charged say 160,000. I’m worried that she could try to take the whole property if any unfortunate problems arise.Thank You...