Hard money lending
- Thread starter casta22
- Start date
- Joined
- Aug 30, 2007
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- 13,879
QUOTE (casta22 @ Feb 18 2009, 01:24 PM) Hi everyone,
I need to know what the regulations/laws surrounding personal secured loans are , such as interest rate restrictions, loan duration, and anything to do with the collateral(real estate).
Thanks
very few, if any, laws .. just common sense .. between consenting adults .. except usury laws .. which I think is 35% or 65%+ / year ..
anything that is win/win .. could be 1% .. could be 45% .. could be 2 days .. could be 25 years fixed .. could be secured by a mortgage .. or could be on a napkin or even handshake .. whatever both parties feel is win/win !
I need to know what the regulations/laws surrounding personal secured loans are , such as interest rate restrictions, loan duration, and anything to do with the collateral(real estate).
Thanks
very few, if any, laws .. just common sense .. between consenting adults .. except usury laws .. which I think is 35% or 65%+ / year ..
anything that is win/win .. could be 1% .. could be 45% .. could be 2 days .. could be 25 years fixed .. could be secured by a mortgage .. or could be on a napkin or even handshake .. whatever both parties feel is win/win !