Wednesday, January 29, 2014

Atlanta Hard Money Lending Explained

By Tom G. Honeycutt


Atlanta hard money lending is defined as a specialized, short-term form of lending that relies on real estate as collateral. In this case, the value of the collateral has a higher weighting than the status or ability to pay on the part of the borrower. Because this type of loan does not employ traditional credit guidelines, it is more expensive.

Atlanta is the state capital of Georgia, a southern state on the Atlantic coast of the United States. The capital itself is situated some 250 miles inland from the coastal city of Savannah in the north west corner of the state. It takes approximately three and a half hours to drive from Savannah to the state capital. An "alpha" world city that formed in 1837 at the crossroads of two railway lines, the city has a GDP of $270 billion.

There are almost 450,000 as determined at the census in 2010. There are approximately 3,200 per square mile. Atlanta is bisected by two interstate highways, I-20 running east/west, and I-85 running north/south. The city hosts three professional sports clubs: the Hawks (basketball), the Braves (major league baseball) and the NFL football team, the Falcons. The top local employers include Delta Air Lines, Emory University and several public school districts.

Hartsfield-Jackson International Airport is a short distance from downtown via I-85. Perhaps surprisingly, it is the busiest airport in the world in terms of the numbers of passengers, 95 million in 2012. The airport is the job of Delta Air Lines and opened in May 1928.

One of the oldest neighborhoods in the city is called Mozley Park. It was built in the 1920s and is composed largely of Craftsman bungalows, most of which do not have a driveway. The other prominent architectural genre in this neighborhood is Folk Victorian, a blend of American homestead inspired by English classic cottage. The name of this style uses the British and French traditions of naming styles of architecture after the currently reigning monarch. Here, the monarch is Queen Victoria.

The American Craftsman style emerged out of the British Arts and Crafts movement in the late 1860s, lasting until the 1930s. During this period, skilled craftsmanship was favored over mass production. As a result, these homes were accessible only to the well off, known at the time as "champagne socialists."

The diversity of housing styles here are attractive collateral for Atlanta hard money lending. Among the various genres are Georgian, Federalist and antebellum, derived from the combined British and Spanish heritage of the city. Other styles here are Neo-Mediterranean, Neo-Classical and American Colonial.




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