We can help with many different and unique situations with regards to our hard money loans. On one of our recent Fullerton hard money loans we helped a client buy out a receivership.
This transaction had a lot of moving parts. The borrower had issues with the city, which led to the court appointing a receiver to address property issues. The receiver proceeded to take out loans, secured against the property, to do the work required by the city as well as pay his fees.
Once the work was completed, there was a loan on the property, as well as a court recorded receivership. In a typical transaction, all liens and items recorded against the property are removed through escrow. This gives the investors clear title to the property. In a receivership situation, however, the receivership cannot be removed at the time of closing. All debts associated with the receivership must be paid, and then the receiver files paperwork with the court to remove the receivership.
Our hard money loan was able to fund, payoff the loans taken by the receiver and satisfy all the debts associated with the receivership. It funded and recorded prior to the receivership actually being removed by the court.
This hard money loan was a unique scenario, and required funding that would look at the specific situation and complete the transaction because it made sense. Many lenders would not fund a scenario like this, but we were able to secure a commitment and funding for our client, helping him out of a tough situation. Many of our hard money loans here in California are out of the box situations where our clients have been turned down elsewhere.
Our loans are for non consumer purpose only, and can be very creative. Most of the underwriting is based on the property itself. If you have been turned down elsewhere for funding, and have equity in your property, give us a call to discuss your options at 877 462 3422. You can learn more about our programs and loan products by browsing our main page here.
This transaction was a short term Pasadena commercial hard money second that we funded. The borrower had the property on the market, but needed cash to continue business operations and pay taxes. We were able to assist with a hard money second – leaving their existing first in place – allowing them to access the […] Continue reading →
This recent Oakland hard money loan funding to 80% LTV closed with cash out for property improvements. We were able to help our client with an aggressive, short term loan for property improvements with no fund control account for the work to be done. This property is located in Oakland. Our client owned this investment […] Continue reading →
Our California hard money seconds are short term loans, secured in second (sometimes even third) position. These hard money seconds are one option for those looking to tap the equity in a property without having to refinance the existing loans. For many with low interest rate existing bank loans, this is important. Utilizing one of […] Continue reading →
At All California Lending, we specialize in California hard money loans. This recent funding was for a Sacramento hard money rehab loan. This transaction was a major rehab project in Sacramento. Our client had experience, although that is not required, and had a nice looking profit margin on this project. Our hard money rehab loan […] Continue reading →
We are able to help with hard money loans throughout the state of California. This recent Sacramento commercial hard money loan was funded for a client needing to close quickly on the acquisition of a strip mall. Our client had the property locked up with multiple offers behind him. We were able to put together […] Continue reading →
We can help facilitate Marin hard money construction loans. Located in the San Francisco Bay Area, Marin is one of the more desirable locations. While the location is highly desirable, new construction can be a challenge to get local approval for. We have experience working with construction loans in Marin and understand many of the […] Continue reading →
We are able to help with San Francisco hard money second loans. These are loans that are secured in a second position, allowing our clients to keep their existing loan while accessing the equity in their property. These San Francisco hard money seconds are ideal for investors who have a great bank loan on the […] Continue reading →
Recently I was interviewed about California hard money loans. Here is a video of a snippet from that interview that turned out quite well! Continue reading →
All California Lending is able to help with non bank financing throughout the state of California. We can help secure funding for most locations, including Truckee hard money loans. This recent funding was a Truckee hard money construction loan. We were able to assist with funding to secure the purchase, construction and interest reserves for […] Continue reading →