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Hard money loans are also different from so-called soft money loans: Hard money loans are usually secured by physical assets like property and their assessed value in the form of equity.
Hard money policies support a specie standard, usually gold or silver, typically implemented with representative money. In 1836, when President Andrew Jackson 's veto of the recharter of the Second Bank of the United States took effect, he issued the Specie Circular , an executive order that all public lands had to be purchased with hard money.
This contrasts with a hard loan, which has to be paid back in an agreed hard currency, usually of a country with a stable, robust economy. [ 2 ] An example of a soft loan is a $2 billion loan by China's Export-Import Bank to Angola in October 2004 to help build infrastructure.
A hard money lender determines the value of the property through a BPO (broker price opinion) or an independent appraisal done by a licensed appraiser in the state in which the property is located. [8] The interest rates on hard money loans are typically higher than the rates charged for traditional business loans.
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In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value.Factors contributing to a currency's hard status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated ...
In advertising, a hard sell is an advertisement or campaign that uses a more direct, forceful, and overt sales message, as opposed to a soft sell. The term is also used to describe aggressive sales techniques used by company representatives, particularly in the context of doorstep selling.
The legislation stood as a compromise engineered by Senators John Sherman and George Edmunds between hard and soft money advocates. [17] Milton Friedman and Anna J. Schwartz argue that the Resumption Act had mixed effects on actual resumption of specie payments, saying that primary economic product of the Act was that it instilled confidence in ...
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