Steps in the Lending Process If you need a private loan, it’s helpful to understand the process to put your mind at ease. It’s not as scary or as involved as people may assume. Many people just like you are going through a tough time. You may have lost someone very dear to you recently. Perhaps your attorney has advised you to look into getting a third-party loan to preserve your parent’s or grandparent’s Proposition 13 tax base.
Whatever the case may be, HCS Equity is here for you as a trusted direct lender in California. What does this mean? It means we can make quick approval decisions and provide funding in as little as seven to 10 days. The process to secure a loan may seem daunting at first glance, especially as you are going through a loss and facing the dissolution of an estate.
No worries. Here, we will go over the steps involved in the lending process.
Step 1: Determine who will retain the property
One or more beneficiaries or heirs may wish to retain the property and its tax base. Figure out who this person is and solidify that intention. Call HCS Equity to determine next steps that are unique to your situation. We can help guide you through the following steps to ensure a successful resolution.
Step 2: Determine the loan amount
Factors such as the property value, other assets or cash in the trust, and the number of beneficiaries or heirs will all be used to determine the liquidity needs of the trust or estate. This will in turn determine the loan amount the trust or estate will need to borrow. There are no personal guarantees required, the application process is quick and painless, and we only need basic information about the trust or estate to complete the process.