Los Angeles, California Probate Funded Loan
Los Angeles, California
Property Type: Probate Loan
Lien Position: 2nd Trust Deed
Loan Amount: $100,000.00
Appraised Value: $1,500,000.00
LTV: 22%
Loan Rate: 10.5%
Loan Type: Probate Loan
Occupancy: Non-Owner Occupancy
Term: 24 Months Interest Only
Our Client/Borrower, the Administrator for the Estate was seeking a new $100,000.00 2nd Trust Deed Probate Loan in Los Angeles, California.
The “Cash Out Funds” are needed for pay Probate Court Expenses, Attorney Legal Fees, and to make some minor repairs and upgrades to the Subject Property for when it’s Listed for sale and put in the MLS.
There is a “Lis Pendens” recorded against the Subject Property and is Listed as Item # 7 in the Preliminary Title Report.
Right Services, Inc, who recorded the Lis Pendens made plumbing repairs to the Subject Property just before they passed away.
Their Invoice that is owing will be paid through Escrow from the proceeds of the Proposed $100,000.00 2nd Trust Deed Loan. Right Services, Inc. will also Release the Lis Pendens concurrently with their Invoice being paid by Stewart Title Company.
The plan for payback is to sell the Subject Property prior to the maturity date of the proposed loan.
We believe that the loan has many strong points in Los Angeles, California.
Our probate hard money loans are designed for executors and administrators requiring immediate financing and for beneficiaries who need funds prior to the completion of the probation process. We assist attorneys and executors with court-required probate loan documentation.
