Loans to
Reverse Mortgage Payoff
Location: Winter, CA
Funded: $125,000
Private Loan Type: Trust Loan
Deal Highlights:
Deal Summary:
A few months after the passing of their father, the beneficiaries were made aware their father had taken out a reverse mortgage shortly before he passed away. With only a few weeks before the lien holder filed a notice of default, we stepped in to pay off the reverse mortgage, and provide additional capital to prepare the property for sale. Reverse mortgage lenders have little tolerance these days, so it was imperative that we closed quickly.
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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