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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.
Graph showing the insurance cycle over time. For the sake of argument [6] let's start from a 'soft' period in the cycle, that is a period in which premiums are low, capital base is high and competition is high. Premiums continue to fall as naive insurers offer cover at unrealistic rates, and established businesses are forced to compete or risk ...
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.
The loan amount the hard money lender is able to lend is determined by the ratio of loan amount divided by the value of the property. This is known as the loan to value (LTV). Many hard money lenders will only lend up to 65% of the current value of the property. [3] There is no such thing as 100% LTV for this type of transactions.
In a hard insurance market it's even more important to engage your provider on the best ways to protect yourself at a reasonable price.
Hard money may refer to: Hard currency, globally traded currency that can serve as a reliable and stable store of value; Hard money (policy), currency backed by precious metal "Hard money" donations to candidates for political office (tightly regulated, as opposed to unregulated "soft money")
The hard money lender approves a loan in the amount of $170,000 — well within the typical loan limit of 70% of after-repair value. The loan term is 12 months, and the lender charges a 15% fixed ...
A soft cost to a contractor, such as his administration costs, can be a hard cost to the owner because what the contractor invoices the owner is the owner's direct cost. If the owner employs engineers to overlook construction as the project is executed, this will be a continuing expense during repair if the repair is done after the original ...