Financing Probate Real Estate
Do You Need To...
- Access the equity in an estate-owned property and avoid selling?
- Pay attorney fees in order to close probate?
- Pay IRS, State or property taxes?
- Get cash for estate obligations?
- Buy out other heirs in order to take title?
- Pay debts such as judgments, liens, Medi-Cal or other estate bills?
- Get money to pay back or make future estate mortgage payments?
- Get cash for fix-up or improvements to estate owned property?
- Borrow on estate owned rental units or small commercial building?
Loans on Probate Estate Property?
Now, for the first time, access the equity in you California home, rental
or small commercial property, even if it's still in probate. We provide fast
funding on all mortgages to help you put the equity to work even before the
estate has been closed.
Who Can Borrow?
We make mortgages to Executors and Administrators of probate estates as well
as to individuals. You may be an heir who wants to borrow in order to buy out
other heirs and take title to property. We also make loans to trustees of trusts,
conservators and guardians who control real estate at the lowest market interest
rates available.
What's Needed to Qualify?
Qualifying is very straightforward. If we lend to an estate we'll use the
equity in the property as the main qualifier. If you have good credit and income,
while not required, that will help you to get the best rate available. We can
often tailor an attractive program to fit your special situation (i.e., payments
Rae automatically made for you).
Banks and other mortgage companies won't help you until probate is closed and
then you must meet their rigid guidelines. We're different. We'll use common-sense
to approve your mortgage...typically in less than 30 days!
Will We Help You With Your Probate?
In a word, no. We are not attorneys and will not provide any advice on legal
or tax matters. your attorney is your best source of advice and frankly the
best prepared to expedite the probate process. We can assist you with specific
matters under the direction of your attorney, however.
What if You Don't Have an Attorney?
If you're not attorney represented, we urge you to consult an attorney and,
if you wish, we'll gladly provide names of attorneys in your area who practice
probate law. We can only accept probate estate and trust clients who have an
attorney, however.
As mortgage bankers, what we will do is make practical suggestions on how
to best structure your loan request and what is needed to close your mortgage.
We will advise you at the time of the your application on available programs,
their terms and what costs are applicable.
How to Get Started...
Begin by sending us email (or
have your attorney do this) so that we can better understand what you want to
accomplish with your loan request.
An Executor or Administrator who signs for the loan does not have personal
liability but must follow certain legal procedures according to California Probate
laws. Since each probate estate or trust is different, so are the documents
needed to give you the power to borrow. We'll help your attorney to expedite
this process.
We'll set up a private, personal application appointment (or, if you prefer,
take the application over the phone) and ask you to provide certain papers.
These papers can vary depending on your unique situation. Within a few days
we'll also coordinate an appraisal of your property prior to your loan's processing.
The time to fund can be as little as two weeks but most likely about 30 days.
Your loan payments will vary depending on the program you qualify for, the
size of your loan and current interest rates. Most of our clients obtain financing
in which the payments are much less than it would cost to rent their property!
IT'S THAT EASY!
Want to learn more about mortgage financing to probate estates? Read How
to Obtain Financing for Executors, Administrators, Trustees, Conservators and
Guardians.
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