Loans to
Trusts and Estates
Location: San Diego, CA
Funded: $714,000
Private Loan Type: Reverse Mortgage Payoff Loan
Deal Highlights:
Deal Summary:
Reverse mortgages are typically called due six months after the passing of the borrower, and in this case the borrower’s children were not aware their father had taken out a loan on the family home. Unsure of their plans for the home they did not want to jeopardize losing it, so they opted to buy some time, and secure a reverse mortgage payoff loan before the lender filed a notice of default. The one-year term we provided gave them time to grieve, then discuss their plans for who would keep the property without an unrealistic deadline looming.
Deal Details:
More Deals by HCS Equity
HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property.
Investment Property Purchase and Rehab
HCS Equity provided a $1,895,000 fix and flip loan to a seasoned investor for a hoarder's property in urgent need of renovation in Carmel, CA.
Investment Property Fix and Flip
$360K fix and flip loan in Brentwood helped an investor secure an off-market property fast, complete renovations, and sell within 90 days.
Sibling Buyout of Trust Property
$985K trust loan in Half Moon Bay funded a sibling buyout, preserving the family home and Prop 19 tax base before refinance by the beneficiary.
