What are the pros and cons using this tool?

I wouild not call it a "tool" as much as just a type of underwriting as a type of non bank loan. Where the income, credit of the person requesting the credit is not really reviewed, only the property and other items or other properties that can be put up for the loan.

The problems is that without looking at the persons ability to pay, they most likely will have higher foreclosure rates, they almost always have much higher interest rates and higher fees invovled.

They will on the positive side, give loans to people who can not quality in any other manner.

What are the pros and cons using this tool?
Equity Development Corporation | Private Hard Money Lender (http://www.equitydevelopmentcorp.com)

Hard Money Lender