When it comes to hard money loans, what are the personal guarantees that lenders expect? Before going into that, you need to know the difference between a full recourse loan and a guarantee. Your hard money loan is either a full recourse loan, meaning the lender can lawfully pursue the borrower’s other assets to pay the debt if the borrower’s collateral is not enough to cover the loan, or a non-recourse loan, meaning the borrower’s assets are protected as being separate entities and can not risk being liquidated. Read more
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