Our probate hard money loans are designed for probates that require immediate financing for needed obligations and for beneficiaries who are in need of funds prior to the completion of the probating of the estate and the ultimate estate distribution.
Typically, most of the probate hard money loans that we fund can be over-funded to set up an interest impound reserve account to cover required monthly interest payments due until the probate receives the order for final distribution from the probate court. If there are any unused funds remaining in the interest impound reserve account, the money can be distributed as estate proceeds due to the beneficiary.
We work directly with the probate attorney or executor/administrators of the estate to work out all of the necessary details and court approvals. If the requested financing does requires court approval, can prepare and arrange to deliver to the court the necessary documentation and financing disclosures sufficient for the court to approve the requested estate financing. Under most circumstances, our probate hard money loans can be paid back from assets of the estate which allows borrowers to not have to make any monthly payments.
Westar Lending Group provides the needed funds to meet financial obligations of the probate estate prior to final court settlement. Emergency cash is available when needed.