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hard money at a high price...

September 11th, 2013 | posted by susangoates

I just missed the deadline of my 90 day loan and it's going to cost me 16K - this lender was new to me so I took it for granted that he was a good guy - well, he's not. I didn't understand the default fee and when he gave me my payoff it was 16K higher. His reponse, too bad - you should have managed your note better. I tried to talk to him and he was having none of it. So, I guess I will have to pay the fee and never, ever do hard money again. So bummed.....My profit is cut down to about 8K now...... Sad

On 22:35pm, September 11th, 2013 xeriscapelady said:

hard money at a high price

This is why I have NOT used hard money. Too many things could happen and I don't want them happening to me.