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<p>Hard money becomes a last resort when borrowers cannot meet the lending standards set by banks or government sponsored enterprises such as <a href="page.php?w=Fannie_Mae">Fannie Mae</a> and <a href="page.php?w=Freddie_Mac">Freddie Mac</a>.</p>

<p><big> Private mortgages </big></p>
<p>A private <a href="page.php?w=mortgage_loan">mortgage</a> is a <a href="page.php?w=loan">loan</a> secured by <a href="page.php?w=real_estate">real estate</a> that is made by a <a href="page.php?w=private_lender">private lender</a>, instead of a traditional lender, <a href="page.php?w=financial_institution">financial institution</a>,</p><p>
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