Wednesday, August 16, 2006

Private Mortgage Investing/Hard Money Lending: How to Secure Your Investment

If you are going to invest via private mortgages or hard money lending, then you will want to be sure your investments are secure. Here are three things you will want to do:

  1. Have the borrower sign a promissory note at the time of the closing.
  2. Be sure that you are the first and ONLY recorded mortgage.
  3. Have them get insurance, provide proof of that insurance, and list you as the first mortgagee.
To learn more about this topic, buy and read Private Mortgage Investing by Teri B. Clark.

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