Posted by John Merchant on May 11, 2004 at 16:26:09:
I think you’re going to have to start from the other side…to see what it is that would make your friend comfortable enough to do your deal.
While it’s legally possible to use any asset to secure a loan, that’s sure not to say that any lender would accept just any security.
Can a Beneficial Interest Secure a Private Loan - Posted by Anthony Ellis
Posted by Anthony Ellis on May 11, 2004 at 02:11:16:
I have a private lender that will lend but does not want to do
second mortgages. He is a friend. If I give him a percentage of ownership in a Trust with a note can I secure his interest, so that he will feel comfortable that his interest is protected.