Finance
In South Carolina, what is 'hard money' lending in real estate?
AA government-backed loan with strict requirements
BShort-term, asset-based lending from private sources, typically at higher rates, used for quick acquisitions or rehab projects✓ Correct
CA fixed-rate conventional mortgage
DA student loan-based mortgage program
Explanation
Hard money loans are short-term, high-interest loans from private lenders, typically secured by real estate. They are based on the property's value rather than the borrower's creditworthiness, making them useful for investors who need quick financing or have credit challenges.
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