The Borrower owned a 4 -Plex in West Los Angeles and was in need of funds to pay the 1st trust deed current and to satisfy other financial obligations. She and her Husband were having financial issues due to a business problem stemming from her Husband’s business. Since the 1st Trust Deed had a good interest rate the decision was made to fund the Borrower a new 2nd Trust Deed for $85,000.00. She had inherited the property from her Father and several of the units were rented to long term tenants and due to Los Angeles City rent control the monthly rent was just high enough to pay the monthly payment of the property but no cash flow to the Borrower. Since she had substantial equity in the property we were able to fund her a 2nd Trust Deed at 10.50% for 3 years and were able to get it done in less than two weeks in West Los Angeles, California.
18034 Ventura Blvd Suite 244
Encino, California 91316