Is it illegal for a real estate agent to give his client a hard money loan?
Is it against the real estate law for an agent to give his client money for personal needs (to make the mortgage payment), and have the client name the agent as the beneficiary on the deed of trust to the house as collateral for the cash loan?
I’m sorry, I forgot to mention that I already own my home, I refinanced it to make repairs and have an agent who has listed it for sale. The agent helped me get the loan for the re-fi. The hard money loan came afterwards when the mortgage payments became more than i could afford so the agent offered to loan me money for survival until the house sold.