Q: What California probate (or trust or estate) loan financing options are available for fiduciary and individual borrowers? A: For estate or trust realty, borrowers are qualified similar to traditional mortgage lending, based on income, creditworthiness and other factors. Usually, borrowers may draw upon as much as 80 percent of the property’s value (occasionally more). […]
To start the process of obtaining a Probate Loan, please email or fax the following items: Amount Requested and for What Purpose; Petition for Probate; Order for Probate; Letters; Inventory & Appraisal (or property address); and Decedent’s Death Certificate (Required by Title Company). Email: EstateLoan@gmail.com Fax: 855.304.7381
To start the process of obtaining a Trust Loan, please email or fax the following items: Amount Requested and for What Purpose; Property Address; Any Appraisal(s): Trust Declaration; Any Amendments or Restatements; and Last Trustor/Settlor’s Death Certificate (Required by Title Company). Email: EstateLoan@gmail.com Fax: 855.304.7381
In my business of arranging loans to trusts and estates, I often make loans in order to eliminate the Property Tax Reassessment Event when the transfer of real property is between parents and children or grandparents and grandchildren. A common strategy to prevent a property tax reassessment event, and the resultant higher property tax, is […]
In my business of arranging loans to trusts and estates, I tend to find numerous trusts and estates in the process of selling real property. Many of the properties have liens and mortgages and have been physically neglected. First Probate Loans now offers a junior position, straight note of less than 12 months to assist […]
In my business of arranging loans to trusts and estates, I pay off a significant number of reverse mortgages. As more seniors turn to reverse mortgages, surviving spouses or adult children become overwhelmed when one or both of their parents eventually dies. When a reverse mortgage borrower dies, the loan becomes due and payable; and, […]
Working with fiduciaries and their attorneys to borrow on behalf of trusts and estates is no small matter, with complex probate, national and local real property finance lending laws. The intricacies of dealing with title companies and the three types of title reports are key to the process.
The importance of protecting an investment such as a home – the largest single financial investment many people will ever make – cannot be overestimated. Understanding the role the title company plays in that purchase is important for homeowners and professionals alike.
In California, understanding the Foreign Investment in Real Property Tax Act (FIRPTA) of 1980 can be helpful for professionals in the industry. The IRS provides a comprehensive, yet concise, summary of the act, and includes the following information. You’ll never have a question again!