Hard money policies are those which are opposed to fiat money and thus usually in support of a gold standard or similar. In 1836, when President Andrew Jackson's veto of the Bank recharter took effect, he ordered that all public lands had to be purchased with hard money. Hard money is gold, silver, or other metallic money. Fiat money or fiat currency, is money that is current or legal tender as satisfaction for money debts by government fiat, that is by law. ... This article is on the monetary principle. ...
A hardmoney loan is a short-term bridge loan that is used for acquisitions, turnaround situations, foreclosures and bankruptcies.
The hardmoney loan is a private loan in which actual cash is transferred from the lender to the borrower for the purpose of making a large purchase, usually a real estate purpose.
The hardmoney loan is not subject to the stringent guidelines of a federal or conglomerate lending institution and is therefore negotiable with the lender.
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