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NEW YORK (CNNMoney) — Thanks to improving home prices, fewer mortgage borrowers owe more on their homes than they are worth. More than 700,000 homeowners were no longer underwater on their homes.
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These Florida Hard money lenders provide short-term loans that provide funding based on the value of Florida property that is being secured by the hard money mortgage loan. Our Florida Hard money lenders provide financing that does not have all the red tape or document requirements that borrowers normally incur with conventional bank financing.
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A hard money loan is a species of real estate loan collateralized against the quick-sale value of the property for which the loan is made. Most lenders fund in the first lien position, meaning that in the event of a default, they are the first creditor to receive remuneration.