Jay Rhein – Trust & Estate Loan Account Executive

Jay Rhein - Trust Loan Account Executive

Jay Rhein – Trust Loan Account Executive

Commercial Loan Corporation welcomes Jay Rhein, our newest Trust & Estate Loan Account Executive.

Commercial Loan Corporation is excited to welcome Jay Rhein to our Trust and Estate Loan team! Jay’s primary role at Commercial Loan Corporation is to assist clients, Attorneys and Trust Administrators in obtaining mortgages for trusts and estates. Our Trust & Estate Loans help beneficiaries and heirs take advantage of California Proposition 58’s exclusion for property tax reassessment and retain a parents low Proposition 13 tax base on an inherited home. This is accomplished by providing a trust or estate with the cash needed for an equal distribution of assets; one of the California Board of Equalization requirements for Proposition 58.

A few words from Jay Rhein

“I began my career in the real estate business when I was a young lad attending UCLA. I worked in the construction industry (pounding nails) during the summer to pay my way through college.

After I graduated with a degree in economics, my bride and I started our wine distribution business. We represented small family owned wineries. Working hard, we were able to get our wineries into all the major supermarket chains including Safeway, Vons, Albertsons and Ralphs.

For the past six years I have had the privilege of serving as a mortgage banker helping homeowners and business owners achieve their dreams and goals. My proudest moment was when I had the honor of stopping Bank of America from foreclosing the next day on a 104-year-old borrower. I was able to secure a reverse mortgage which will provide enough funds so she can stay in her home for another one hundred and four years.

My goal is to place my customers in the best possible financial position for their future while providing the top customer experience in the industry. Commercial Loan Corporation with its family values gives me the freedom to do this. In fact, the founder insists on it.”

Contact Information For Jay Rhein:

Jay Rhein
Account Executive
Dept: Trust & Estate Loans
(t) 714-442-8897
(e) jrhein@cloanc.com

Join Us At The Orange County Estate Planning Council March 26th Event

Orange County Estate Planning Event

Orange County Estate Planning Event

Orange County Estate Planning Council Event

Commercial Loan Corporation is the featured sponsor for tonight’s Orange County Estate Planning Council Event. Mike Riggs and Tanis Alonso will be on hand to answer finance related questions pertaining to California Proposition 58, Parent to Child Real Estate Transfers, Trust Loans, and avoiding property tax reassessment on an inherited property.  Tonight’s Estate Planning council is focusing on INGs and Spousal Lifetime Access Non-Grantor Trusts (SLANTs) PLUS IRC 678 and the Beneficiary Deemed Owner Trust. The event will be from 4:30pm – 8:00pm at the Santa Ana Country Club in Santa Ana, Ca. Tonight’s Orange County Estate Planning Council speaker is Edwin Morrow from US Bank Private Wealth Management.

The presentation will be focusing on INGs and Spousal Lifetime Access Non-Grantor Trusts (SLANTs) – Not Just for State Income Tax Avoidance: How “INGs” and “SLANTs” Can Save State Income Taxes and Why Tax Reform Makes Them Even More Powerful. This segment of the presentation will be from 4:30 to 5:30 PM . IRC 678 and the Beneficiary Deemed Owner Trust will be presented from 7PM to 8 PM focusing on income tax benefits of such trusts include much simpler tax reporting, lower tax brackets, capital gains tax exclusions for residences, much more favorable Section 179 expensing, disregarded transactions, firmer S corporation status, charitable deductions for business income, more favorable life insurance and annuity rules, better treatment for capital losses, and many more benefits often overlooked. Asset protection for such trusts, while seemingly substandard, is hardly a disaster. Any ill effects of a withdrawal power can not only be counteracted but even turned into an advantage over other trust designs. A 50-state comparison chart will be included which summarizes the various state asset protection statutes and law around powers of withdrawal and lapses. 
Both of these presentations qualify for 1-hour of CE for MCLE, CPA, Professional Fiduciary and Trust Officers.

For additional information please visit the Orange County Estate Planning Council website at: http://www.orangecountyepc.org/

Congratulations Autumn!

Autumn Skerritt - Commercial Loan Corporation Operations Manager

Autumn Skerritt – Commercial Loan Corporation Operations Manager

Congratulations Autumn!

As is typical with Autumn Skerritt our Operations Manager; she went above and beyond when it came to meeting the expectations of a client! If fact, the client was so appreciative of Autumn, she sent her a bouquet of flowers and a very thoughtful card to thank her!

Autumn assisted her client in processing a complex trust loan where an old lien needed to be cleared from title before the loan could close. She helped the client make an equal distribution on their trust. This allowed them to preserve their parents property tax base on the inherited home, saving them thousands of dollars each year in property taxes. Autumn stayed in contact with the client throughout the entire trust loan process and did everything she could to help them close as quickly as possible! Her hard word and dedication to her clients needs sets her apart from other people in the industry. Those are just a few of the qualities that makes Autumn such a a pleasure for her clients and coworkers to work with.

Thank you for everything that you do for your clients and our company Autumn!

Commercial Loan Corporation New Address

20250 SW Acacia St. #105, Newport Beach CA, 92660

20250 SW Acacia St. #105, Newport Beach CA, 92660

Commercial Loan Corporation has moved to a new larger location.

Our new address is:

Commercial Loan Corporation
20250 SW Acacia Street #105
Newport Beach, CA 92660

If you need assistance finding our new location, please call us at 877-464-1066 for assistance. We are on the first floor of the Acacia Court building located in suite #105. Here are some photos of our new building and office space.

20250 Acacia Street, Newport Beach CA 92660

20250 Acacia Street, Newport Beach CA 92660

The above photo is the entry of the 20250 Acacia Court Office building.  The Commercial Loan Corporation Suite is immediately to the left once you walk into the building.

Commercial Loan Corp Office

Commercial Loan Corp Office

This is the Commercial Loan Corporation meeting area in the center of our office.

Commercial Loan Corporation Office

Commercial Loan Corporation Office

The above is the Commercial Loan Corporation Lobby Area.

We hope that you have a chance to visit our new office space soon! We are always available for your Trust & Estate financing or Private Money Lending needs. Commercial Loan Corporation can help you maximize your trust distribution and receive more money from an inheritance. Call Commercial Loan Corporation at 877-464-1066.

Orange County Bar Event – Costa Mesa, CA

Orange County Bar Association Event

Orange County Bar Association Event, Costa Mesa, CA

Join Commercial Loan Corporation on October 10th, 2018 at the upcoming Orange County Bar Association event. The Orange County Bar Association Trust & Estates Section Presents “SO YOU THINK YOU CAN NEGOTIATE? Learn Skills and Techniques Leading to Successful Resolutions” at 5:30PM on 10/10/2018 in Costa Mesa, CA.

Mike Riggs, Senior Account Executive at Commercial Loan Corporation will be on hand to answer any questions you have on our Trust & Estate Loans. Commercial Loan Corp specializes in lending to Family Trusts and Estates in Probate. If you are unable to make the event, please call us at 877-464-1066. Our team can review a loan scenario with you or a client to see if they might benefit from one of our Trust & Estate loan programs. Often times, our trust and estate financing is used to equalize a trust or estate distribution to take advantage of Proposition 58 and avoiding property tax reassessment on a home that was inherited from a parent.

Our specialized Trust & Estate finance programs can help a client distribute their trust faster, provide cash for legal fees and save money! Our Trust Loans are typically less expensive than selling a home. That means more money for the beneficiaries and we can fund a Trust or Estate Loan in as little as 7 days!

On average we save our clients over $6,000 a year in property tax payments by avoiding property tax assessment on an inherited property. If you are looking for a loan to a Irrevocable Trust, Family Trust or Estate, please call us at 877-464-1066 for additional details or a free benefit analysis.

California Trust & Estate Attorneys

California Trust And Estate Attorneys

California Trust And Estate Attorneys

When setting up a trust or dealing with trust and estate matters, finding a qualified Trust & Estate Attorney is highly advised! You can save money attempting to handle some items yourself, but be warned that making mistakes can sometimes end up being very costly.

This is especially true if you are inheriting a home from a parent and it is your goal, or a siblings goal to use Proposition 58 to keep a parents low property tax base. In many cases a trust or estate contains a variety of assets including cash and material items in addition to real estate. When there are multiple beneficiaries involved, and one of the beneficiaries wants to keep the home, the distribution can be complicated. If not handled correctly, you may lose your ability to receive an Exclusion From Property Reassessment. This can cause the homes value to be reassessed when transferred and in turn the property taxes may skyrocket.

Commercial Loan Corporation provides financing to Trusts and Estates to help you receive an exclusion from property reassessment. By doing so, we save our clients on average over $6,000 a year in property taxes. We are constantly working with qualified Attorneys and Property Tax Consultants in California to help their clients with Proposition 58 property transfers. If you are in need of financing to assist a trust or estate, or are looking for a Trust & Estate Attorney in your area to assist you, please call us at 877-464-1066. We would be happy to refer you to a California Trust & Estate Attorney that we have worked with in the past and who is knowledgeable on Proposition 58 and the parent to child property tax transfer process.

California Residential Property Tax Consultant

California Residential Property Tax Consultant

California Residential Property Tax Consultant

At Commercial Loan Corporation we specialize in assisting clients with the financing they need to keep a parents low property tax rate on an inherited property. Transferring a Parents of Grandparents property tax rate can be a extremely beneficial; in fact, on average we save our clients over $6,000 per year in property taxes. Taking advantage of the California Proposition 58 property tax benefits can be very complicated and we always advice that you use the services of a qualified Attorney or Resident Property Tax Specialist. With so much potential property tax savings on the line, you want to make sure that all of the rules are followed and that all of the documents are processed correctly. Failing to do so may disqualify you from an Exclusion From Property Tax Reassessment.

Michael Wyatt is a residential property tax specialist and specializes in helping clients preserve a parents low Proposition 13 protected property tax rate when a home is transferred or inherited. Often times he works with clients where the inherited real estate is contained in a trust or is part of an estate. It can be a very complex matter. If the property is not transferred appropriately or the financing is not done in accordance with California law, you may become ineligible to retain a parents property tax base rate and the home may be reassessed at current market value. We have worked with Michael Wyatt’s Property Tax Consulting Firm on several occasions and highly recommend him.

Michael Wyatt Property Tax Consulting works with the clients of attorneys, CPAs, financial planners, and real estate professionals to minimize real property tax assessments before or after transactions involving the transfer or purchase of real estate. One of the reasons why Michael Wyatt’s services are so valuable when it comes to keeping a parents low property tax rate is that he formerly worked for the Orange County Tax Assessor’s Office for almost 25 years. So he has the first hand experience to make sure you obtain the tax savings that you deserve. Prior to becoming a California Residential Property Tax Consultant, Michael worked as a Legal Analyst at the County Tax Assessors Office. During that time, Michael observed many real estate transactions that had undesired results due to property owners either never consulting with counsel, or advisers were not familiar with property tax law and its consequences. Michael Wyatt became a Property Tax Consultant in order to help advisers and their clients avoid those unintended results, and plan and structure their real property transactions to achieve their goals.

 If you are in need of Trust or Estate financing or are interested in preserving a parents low property taxes on an inherited home, please call us at 877-464-1066 so that we may assist you. We can help you put together a plan of action and review your potential property tax savings with you.

Commercial Loan Corporation Welcomes Tanis Alonso

Tanis Alonso - Account Executive At Commercial Loan Corporation

Tanis Alonso – Account Executive At Commercial Loan Corporation

Commercial Loan Corporation welcomes Tanis Alonso, Account Executive for our Trust & Estate Bridge Loan Department.

Commercial Loan Corporation is very excited to welcome Tanis Alonso as the latest addition to our team! Tanis is an Account Executive in our Trust & Estate Bridge Loan Department. Her primary role is to assist clients, attorneys, trust administrators, paralegals and fiduciaries in obtaining short term bridge loan financing for beneficiaries and heirs that want to take advantage of Proposition 58’s exclusion from property tax reassessment to preserve a parents low Proposition 13 tax base on inherited property.

Tanis Alonso:

“My commitment to my clients is that i will always put your needs first! You can expect 100% transparency from me and i will always look out for your best interest.

Prior to joining the Commercial Loan Corporation team, I attended California State University, Fullerton for Business Management.  I obtained my Real Estate license in 2005, but continued down the path of Restaurant Management advancing into a Customer Service Specialist and Developmental Training Manager. I have a passion for taking care of others, am very detail oriented and have a do whatever it takes mentality.

Outside of work, I like to spend my free time with my family and volunteering with various organizations. My favorite thing to do is take my dog Beau to the dog park so he can play with all his friends.

I am beyond excited to start a new journey with Commercial Loan Corporation and to be working alongside a group of individuals with the upmost integrity and expertise.”

Contact Information For Tanis Alonso:

Tanis Alonso, Account Executive for the Trust & Estate Bridge Loan Department can be reached at 714-442-8995 or by email at talonso@cloanc.com. If you are interested in more information on our Private Money Bridge Loans for Trusts & Estates, please call Tanis or complete the short form located here. For immediate assistance from any member of the Bridge Loan department, please call us at 877-464-1066.

For additional information on our bridge loans that assist clients who are inheriting real estate from a parent and want to keep the existing low property tax payment, please click here.

California Proposition 58 Parent to Child Transfer of Property Tax Rate

California Proposition 58 Parent to Child Property Tax Transfer

California Proposition 58 Parent to Child Property Tax Transfer

California Proposition 58 and Property Taxes

When inheriting real estate from a parent, one of the primary considerations in determining if you will keep or sell the property is often the expenses associated with the home. Typically one of the greatest expenses is the homes property taxes. In California, Proposition 58 grants qualifying children the ability to retain a parents low Proposition 13 protected property tax rate. Doing so could mean a savings of thousands of dollars each year. Commercial Loan Corporation helps beneficiaries and heirs qualify for their Prop 58 property tax benefits by providing bridge loans to trusts and probate estates so that an even distribution can be made.

Information About Proposition 58

In 1986, California’s Proposition 58 became effective and with certain limitations, it allows for the exclusion from reassessment of property taxes on real estate transfers between a parent and child. In the State of California, real estate is reassessed at market value if it the home is either sold or transferred. The property value reassessment may cause property taxes to increase dramatically in some cases. Preventing a property tax reassessment may save a beneficiary or heir thousands of dollars annually depending on the difference between the existing assessed value and the current reassessed property value. If the transfer of property is between a parent and child, under certain circumstances the property will not be reassessed if all required conditions are met. If applicable, an equal distribution must be made to all beneficiaries and a beneficiary is not permitted to contribute personal funds to equalize the distribution to qualify for an exclusion from property tax reassessment. An application must also be properly filed in a appropriate amount of time to be eligible for a Proposition 58 exclusion from property tax reassessment. When done properly, the new owner’s taxes are calculated on the parents established Proposition 13 factored base year value, instead of the current market value.

California Proposition 58 Limitations

There are some limitations to Proposition 58. For instance, on non primary residences transfers of the first $1 million of real property. The $1 million exclusion applies separately to each eligible transferor. These transfers may be result of a sale, gift, or inheritance. A transfer via a trust also qualifies for this exclusion. Additionally, when applicable an equal distribution must be made to all beneficiaries and a beneficiary is not permitted to contribute personal funds to equalize a trust distribution. In the situation where fund are needed to make an equal distribution, a third party loan is required.  That is where Commercial Loan Corporation can assist you by providing a bridge loan to the trust or estate. The Commercial Loan Corporation third party bridge loan provides enough cash to the trust or estate so that all parties can receive an equal portion of the trust or estate assets and enables one or more of the beneficiaries to receive the home as their portion of the distribution.

Additionally, Prop 58 defines a child as child born of the parent(s), a stepchild while the relationship of stepparent and stepchild exists, a son-in-law or daughter-in-law of the parent(s), and any adopted child who was adopted before the age of 18. Spouses of eligible children are also eligible until divorce or, if terminated by death, until the remarriage of the surviving spouse, stepparent, or parent-in-law. Information found at https://trustandestate.loans

California Proposition 193

California Proposition 193 grants the same rights to a grandchild as Proposition 58 grants to a child. An eligible “grandchild” for purposes of Proposition 193 is any child of parent(s) who qualify as child(ren) of the grandparents as of the date of transfer.

There are some additional requirements and exclusions for Proposition 58 and Proposition 193. Please call us at 877-464-1066 so that we can assist you.

What Clients Are Saying About Commercial Loan Corporation

Commercial Loan Corporation Reviews

In a world where to increase profits many lenders opt to use overly complicated phone systems to replace live customer support; we believe that customer service holds a greater value. At Commercial Loan Corporation we are determined to provide you with the best customer service experience possible.

Regardless of if you are an attorney representing a client on a trust loan or a borrower looking for third party financing to make an equal distribution of a parents estate; our professional staff is here to assist you. We are happy to take as much time as is needed for you to understand the loan process and will keep you informed along the way. In addition to setting the highest standards in customer service, we also fund the majority of our trust and estate loans with our own capital. This is important because it allows us to underwrite the loan to our own guidelines, quickly grant an approval you can rely on and also complete your financing more quickly; often times in as little as 7 days.

We don’t stop there. Unlike most of our competitors in the Trust & Estate loan marketplace, we do not charge any form of loan prepayment penalty or set any minimum days of interest collected requirements. That may not sound like a big deal, but depending on your loan amount and interest rate, it could potentially save you tens or thousands of dollars in pre-payment penalties or interest fees! We even go a step further and if you pay down your trust or estate loan, we will recalculate your payment based on the new lower outstanding mortgage balance.

Perhaps the best indication of customer service is communicated through the words of some of our past clients. Here are just a handful of testimonials from past Commercial Loan Corporation customers and business partners; more are located here:

“I am a California licensed Professional Fiduciary and needed a hard money loan for one of my clients. My client had been turned down for a Second TD by two conventional lenders before I received a cute ad mailer from Commercial Loan Corporation. From my first phone call to Commercial Loan Corporation (when the owner actually answered the phone!), to my last call with Autumn after the loan had been funded, I enjoyed every moment of this loan process. (How many lenders can you honestly say that about?) I look forward to our next loan together and would not hesitate to recommend Commercial Loan Corporation to anyone needing short term funds. You will be treated professionally and with kindness every step of the way.”
    – Clarice H. – Grover Beach, CA

“CLC was: Professional, Efficient, Thorough, Organized and Extremely Prompt in getting my Loan approved, signed, closed, recorded and Funded.  They were ready to Fund within 5 business days!  I highly recommend CLC.  It was a complete pleasure to work with Mike Riggs and Autumn Skerritt! I’m very glad my attorney recommended CLC. I’m sure you will be extremely pleased, as well.”
    – Sonia T. – Costa Mesa, CA

“Exceeded expectations. Best service I have experienced with ANY lender!  Went above and beyond at every opportunity. Took great care of a client that we referred to them. Response times to any communications from the client or from our office were prompt and complete. Loan processing times were FAST.”
    – Menke Law Firm, APC, – Long Beach, CA

If you are in need of a professional and reliable, California Trust and Estate loan provider allow us to assist you.  Please call us at 877-464-1066.