Finance
In Tennessee, a 'hard money loan' is typically characterized by:
ALow interest rates and long terms from traditional banks
BShort-term, high-interest financing from private lenders based primarily on asset value rather than borrower creditworthiness✓ Correct
CGovernment-backed financing for low-income borrowers
DLoans with no interest
Explanation
Hard money loans are short-term, high-interest loans from private investors, based primarily on the property value (asset-based lending) rather than the borrower's credit. They are commonly used by real estate investors and flippers.
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