“Hard Money & Soft Hard Money”
Hard Money Loan: A debt that is taken on in exchange for cash. No. 2. A loan based primarily upon the collaterals equity, rather than the credit worthiness of the borrower, usually for a premium interest rate or percentage. “Soft Hard Money” is private money at more favorable terms than the cost of current “Hard Money”. Often used by “Rehabbers” to remodel properties when traditional lenders refuse to lend.