Is there a process by which another person can put a lien on my home or use my home as collateral in exchange for a loan?
A friend of mine is going to let me borrow $200,000.00 for an investment. As a security measure, I offered my home as collateral. Is there a formal procedure for this? I need the money ASAP, so something that is time efficient would be ideal.
Thanks,
Moises
A friend of mine is going to let me borrow $200,000.00 for an investment. As a security measure, I offered my home as collateral. Is there a formal procedure for this? I need the money ASAP, so something that is time efficient would be ideal.
Thanks,
Moises
