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Q: Loan question! ( No Answer,   1 Comment )
Question  
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" ??
Answer  
There is no answer at this time.

Comments  
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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