Hard Money 2nds are a great way to make extra money from your real estate investments. A Hard Money Second is a second mortgage on an investment property that pays the investor upfront cash.
Real estate with an existing debt is documented with a second position loan or mortgage. Your second position loan may also be referred to as the junior lien, even if the previous loan is known as the senior loan due to its seniority in recording.
You will likely have to accept a loan with a higher interest rate than your first mortgage in circumstances where you could require a second mortgage.
A private 2nd position mortgage can assist you in maintaining your long-term loan while allowing you to continue borrowing against the equity in your home in this situation.
Yet persuaded? Contact our professional specialist staff right now to submit an application for a second position hard money loan from a reputable lender.
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