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Subject:
Loan question!
Category: Business and Money Asked by: shoaib-ga List Price: $2.00 |
Posted:
30 Oct 2004 18:52 PDT
Expires: 29 Nov 2004 17:52 PST Question ID: 422310 |
I want to know that what is the 'purpose' of "hard equity loan" ?? |
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There is no answer at this time. |
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Subject:
Re: Loan question!
From: daytrader_7__6-ga on 31 Oct 2004 10:12 PST |
http://www.moneyglossary.com/?w=Hard+Equity Hard Equity Definition: Loan based solely on the equity position or collateral, not other prudent credit considerations. http://www.trust-usa.com/programs/hardlines.html HARD EQUITY LINES These loans are provided for borrowers who do not meet the requirements necessary for conventional or sub-prime loans. They are also available to borrowers who simply do not wish to provide income or credit documentation to obtain real estate financing. Credit, income and property type are not the factors used in this type of financing since there are no set guidelines and the loan decision is left to the individual investor. The main factor in this type of loan is the equity in the collateral and the position of the mortgage (first, second or third mortgage.). |
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