Loans to
Reverse Mortgage Payoff
Location: Yountville, CA
Funded: $750,000
Private Loan Type: Trust Loan
Deal Highlights:
Deal Summary:
Several months had passed while the trust administration was underway, which prompted the reverse mortgage lender to call their loan due, and they filed a notice of default. The trustee was out of time, and did not want to jeopardize losing the family home to foreclosure. We stepped in to provide a loan to pay off the RM, and provided sufficient capital to prep the property for sale without the pressure of a looming foreclosure. Once the property is sold, our loan will be repaid through escrow.
Deal Details:
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HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property.
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