Wednesday, July 12, 2006

What is a Private Mortgage Loan?

Private mortgage loans are loans secured by real estate made by a private lender instead of a bank, lending institution or government agency. Private mortgage loans are short-term (6 months - 3 years) hard money or asset based loans made to the professional real estate investor where the decision to lend is based on the equity and value of the property being put up as collateral, not on the borrowers credit.

To find out more, buy and read Private Mortgage Investing by Teri B. Clark.

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