What are Mortgage Refinance Hard money loans? How do they work?

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Hard Money loans are those loans where you can get hard cash quickly within a short time.

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As you can get these loans quickly, on the other hand, the interest rates are high.

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These loans are often used in the short term, especially on real estate purchases.

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In general, Mortgage Refinance Hard money loans are nonbanking loans provided by nonbanking investment firms.

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For collateral security, Real estate, vehicles, machinery, and precious metals are used.

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For fast processing, the lenders don't consider your credit score. Instead, they provide loans on the value of the security.

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Typically, loans are issued on the collateral security's 65% to 75% value.

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Mortgage Refinance Hard money loans can be helpful when you're in a tight spot.

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These loans are also helpful when you have a poor credit rating.

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