We are California’s #1 Trust and Estate Lender. We have helped over 500 clients keep a parent’s low property tax base on an inherited home. Our average client saves over $6,550 a year in property taxes by avoiding reassessment. We provide loans to irrevocable trusts and probate estates. A trust and estate loan allows for an equal distribution to be made so that you can qualify for a California Proposition 19 Parent to Child Transfer and avoid property tax reassessment on an inherited home. This enables one child to keep the home with the parent’s low property tax base while the other child beneficiarie(s) receive an equal share of cash.
Call us today at (877)464-1066. We can provide you with a free cost benefit analysis which will let you know how much you can save by avoiding property tax reassessment. We can answer all of your questions and work with your attorney to help you qualify for a Proposition 19 parent to child transfer and exclusion from property tax reassessment. We can provide financing in as little as 10 business days and help you and your family save tens of thousands of dollars by avoiding costly realtor fees. Our trust loans do not carry a prepayment penalty, so you can pay down or pay off your trust loan as quickly as you like.
Trust Loans, Estate Loans, Probate Loans & Loans to Prepare A Home for Sale
Commercial Loan Corporation is a one stop shop for all of your Trust & Estate Loan needs. Unlike other lenders, we specialize in helping clients who need a loan for a home in an irrevocable trust or currently in probate. Most lenders refuse to lend on these properties, but that is what we specialize in. Not only do we provide trust loans and probate loans, we can also lend funds to prepare a home for sale. In addition to lending services, we can also help you get an immediate cash offer for a home you wish to sell. We can provide you with a free assessment of all of your options so that you can determine which makes the most sense for you.
Our trust loans are specially designed to help beneficiaries and heirs take advantage of the California Proposition 19 parent to child property tax transfer and avoid property tax reassessment on an inherited home. We lend directly to irrevocable trusts and estates in probate, with no personal guarantee requirement from the beneficiary inheriting the home. This meets the California Board of Equalization equalized distribution requirement and avoids a sibling to sibling buyout, which can put your exclusion from property tax reassessment at risk. The loan process is quick too. We can fund a trust loan in as little as 7 business days. Our trust loans help clients avoid costly realtor fees and saving on average over $6,500 in property taxes each year by avoiding reassessment.
Much like a trust loan, a probate loan is typically used to help a client avoid property tax reassessment on an inherited home. The key difference is that the home is in the probate process and opposed to locked in an irrevocable trust. We can help you simplify a complex situation and secure your low property tax base. We will answer all of your questions on the process and help you determine if a probate loan is right for you.
Trust & Estate Loans to prepare a home for sale
In some situations a trust or estate would like to sell the home for top value but does not have the funds needed to make repairs or prepare the home for sale. We make loans to trusts and estate so that they can be rehabilitated, repaired or remodeled; allowing you to fetch top dollar when it is sold. In some cases speed is of the essence and the client wants to get a quick cash offer for the home and avoid a potentially length home sale process. We have contacts throughout California who can assist you and and in some cases purchase your home in as little as 10 business days.
If you are inheriting a home and have questions about a trust loan, probate loan or getting a cash offer for a home; please call us at (877) 464-1066. We can answer all of your questions on the process and provide you with a free quote and benefit assessment.
Finding financing for Probate Estates and Irrevocable Trusts in California can be complicated. Most lenders are unwilling to lend on a property until the estate has been settled. The same problems exist for real estate held in an Irrevocable trust; conventional lenders will require the home be removed from the trust in order to provide financing and doing so is likely to jeopardize your ability to take advantage of the Proposition 19 parent to child transfer exclusion. Our private money loans help solve these complex issues. We lend to probate estates and directly to irrevocable trusts, providing the cash needed for trust administrators and beneficiaries to keep a family home and transfer a parents low property tax base.
We are California’s top Trust & Estate lender and have saved Californian’s over $7,800,000 in property taxes by avoiding property reassessment. We specialize in providing clients with the financing needed to qualify for California Proposition 19’s parent to child property tax transfer. Our average client saves over $6,800 each year in property taxes and if you are inheriting a home from a parent, we may be able to assist you as well. We offer competitive rates, have no personal guarantee requirements, offer affordable interest only payments with absolutely no no prepay penalties or minimum interest requirements. We are here to help!
Call us at (877) 464-1066 and we can assist you or your client with a loan to a probate estate or irrevocable trust. We will help you determine your property tax savings, provide you with a free cost benefit analysis and answer any questions you may have on the process.
Commercial Loan Corporation, A California Proposition 58 Lender
Why Commercial Loan Corporation
There are several things that separate Commercial Loan Corporation from other California private money lenders. Perhaps most important is that Commercial Loan Corporation specializes in loans to trusts with the specific goal of retaining the original prop 13 tax status. There are a few lenders that consider these transactions occasionally but these loans are a small percentage of what they do. It is critically important that this transaction is done correctly to ensure that the county doesn’t reassess the property. There are a lot of mistakes that can be made if it’s not done correctly. We work directly with both the customer and the attorney to assist in this process. We have adjusted our documents with the help of numerous attorneys to provide a seamless transition when the property is distributed from the trust to the individual taking the property in the distribution from the trust. We understand the process better than most, because it’s all we focus on. And we are the lender so we make all of the decisions ourselves. You are right at the source.
Another very important thing that separates us from anyone out there is our policy on early payment. You will find that other private money lenders want to make as much interest as possible off of the transaction. This is not a bad thing. Companies are in business to make a profit. However, our policy on prepayment penalties helps us stand apart from other lenders. Most lenders, in addition to their loan costs, require a pre-payment penalty of some sort. This can be a standard 6 month or 1 year early payoff penalty or in some cases can be a specific number of months of required interest. If a lender requires that you make 3 or 6 payments of interest on a loan prior to being paid off, it is the same thing as a prepayment penalty. A requirement for certain number on month’s interest guarantees a lender that the loan will be more profitable. If a borrower is required to make a specific number of interest payments, it adds to the cost of the loan. For example, if a borrower is required to make 90 days of payments on a loan, it is the equivalent of adding 2 to 3 percent of the loan amount in loan costs.
Commercial Loan Corporation has no prepayment penalties of any kind. None. This can be extremely beneficial to the customer financially. If the money to pay the loan back is readily available we have worked with customers that pay off our loan immediately eliminating virtually any interest costs on the loan. This means that the initial fees charged for the loan is the entire cost of the loan.
Here is an example…
Say the customer has a personal line of credit available to pay off our loan from their lending institution. We can work with them to determine the best timing to fund our loan depending on the availability of their funds. If we fund our loan on Monday, they can pay off our loan on Tuesday, effectively eliminating the accrual of interest. This can be a great tool to potentially save thousands of dollars in interest payments.
We also work with the attorney and the customer to decide when to file the re-conveyance showing that the loan has been paid off. Some of the attorneys we work with want to wait to file the reconveyence (proof the loan is paid off) until they are satisfied that the county has concluded the Exemption for Reassessment of property taxes. We can accommodate the preference of the attorney in the timing of filing the reconveyence.
Don’t let any of this confuse you, we are here to answer any questions you have on the subject and look forward to helping! We tend to do business the old-fashioned way. We do what we say we’re going to do and we focus on speed and customer service.
For assistance, contact us at 877-464-1066 or call our California Account Executive Mike Riggs at 714-442-8901 or firstname.lastname@example.org.
Estate Loans, Probate Loans, Trust loan and Inheritance Loans
Estate Loans, Probate Loans, Trust Loans and Inheritance Loans
If your inheritance includes real estate and you want to preserve your parents or grandparents low property tax rate; there are finance options available to assist you. These loans programs often go by different names but are most commonly referred to as inheritance loans, estate loans, probate loans, or trust loans. In some cases they will also be referred to as hard money loans, private money loans or 3rd party loans for trusts.
Estate, probate, inheritance and trust loans are typically more difficult to come by than conventional real estate mortgages. Often times in order to receive financing on real estate held by a trust, in probate or in an estate, you need to utilize a private money lender. These types of loans are typically intended to be used as short term financing options to provide liquidity to an estate or trust when one is trying to qualify for exclusion for reassessment of property taxes. Once the real estate has been transferred to the beneficiary or heir and the exclusion for property tax reassessment has been secured; that is when the loan is refinanced into a conventional mortgage.
It does not always make sense to utilize a private money, hard money, trust loan, estate loan or probate loan; but there are situations when it does. The most common reason to do so is when dividing the assets of a trust or estate and there is not sufficient cash liquidity to achieve an equal distribution. For instance, one heir or beneficiary may wish to retain ownership of a property. If that is the case and there is not sufficient assets remaining for an equal distribution to the other parties involved; taking out a mortgage on the property may be the best option.
Providers of inheritance loans, estate loans, probate loans, and trust loans
Inheritance loans, estate loans, probate loans, and trust loans are specialized types of real estate mortgages. It can be difficult to find lenders willing to provide this type of financing. Commercial Loan Corporation specializes in this type of lending. Best of all, unlike many other private money lenders, Commercial Loan Corporation does not charge a pre-pay penalty or have a minimum interest requirement which can be costly. If you or your client is looking to obtain a trust loan, probate loan or estate loan, please call us at 877-464-1066 so that we may assist you. To view testimonials from some of our past clients, please view them here.
Commercial Loan Corporation – Mortgages For Trusts, Estates and Probate. We can assist you in retaining your Proposition 13 tax rate.
Retaining A Parents Low Proposition 13 Property Tax Rate
When inheriting a property, the ability to retain your parents or grandparents low Proposition 13 tax rate can be extremely desirable. In fact, in many cases preserving the lower property tax rate can mean a savings of thousands of dollars per year. Unfortunately, this process can also be complicated to achieve in some situations.
California Proposition 58 permits the transfer of real property between parents and children and grants an exclusion for property tax reassessment in some cases. The process of obtaining the exclusion for property tax reassessment becomes an issue for many people when the real estate is held in a trust with multiple beneficiaries and not enough liquid assets to make an even distribution to all of the beneficiaries. That is where Commercial Loan Corporation can help.
Commercial Loan Corporation provides mortgages to trusts and estates. Our trust loan infuses the trust with cash allowing for the equal distribution of the trust and permitting one of the trustees to take possession of the real estate. The process helps to make the individual eligible for a proposition 58 exclusion for property tax reassessment allowing him or her to preserve the parents low proposition 13 tax rate. In addition to loans to trusts, Commercial Loan Corporation also provides estate loans and probate loans to help protect a parents low property tax rate when it is being transferred to a child.