866-461-2695 ken@hardmoneyman.com

Hard money lenders in FL and hard money loan will be considered in this article. This type of loan is usually called hard money loan. It is usually secured by the property: it may be flat, house, cottage, garage, land that must be owned by pledgor of ownership. The hard money loan, under real estate which is in common ownership, without determining the contribution of each of the owners, is possible only with the written consent of all owners.

Participant of the common equity ownership can receive hard money loan from hard money lenders in FL by securing his share of the real property without the consent of other owners. To get a hard money loan the borrower must provide to the bank except a standard set of documents in addition the following: a certificate of registration of ownership of property, the report from independent professional evaluation company about the assessment of the real value of his property, the contract with the insurance company on insurance of the property (insurance of the property, as well as life and disability by borrower is a prerequisite for a loan), the project of the contract of securing property and some other documents if necessary. In general this packet of documents can be another, depending on different requirements of hard money lenders in FL.

Once the treaty enters into force secured party can demonstrate his right of obligations of collateral, which are, in fact, a registered mortgage securities and he may apply to the secondary market securities. From this it follows that the secured party may delegate his rights about the hard money loan and returning of his debt by selling collateral. The debt of the mortgage will be deemed satisfied when a pledge is located in the obligations under this mortgage (i.e. in the ownership of the debtor). During the term of the contract all hard money lenders in FL should secured assets in the form in which it was in the time of concluding of the contract, that is, if necessary to repair, so that property values are not decreased. Purchase of furniture, repairs, appliances and computer is no longer a problem with help of hard money loan.