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	<title>Mortgage Explained &#187; last resort lending</title>
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		<title>Hard Money Loan: Raw Deal</title>
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		<pubDate>Tue, 02 Feb 2010 17:16:52 +0000</pubDate>
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				<category><![CDATA[Basics]]></category>
		<category><![CDATA[Hard money loans]]></category>
		<category><![CDATA[last resort lending]]></category>
		<category><![CDATA[last resort loans]]></category>
		<category><![CDATA[sub prime lending]]></category>

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A hard money loan is a type of asset backed financing which is secured by pledging the value of the property as collateral. These loans have very high interest rates and are never issued by commercial banks or other depository institutions. Those with a bad credit rating or a poor credit score can use the [...]]]></description>
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