Incapacitation Financing
Leonard owns lots of property, however, Leonard has become highly-forgetful. Soon, he starts missing mortgage payments and ends up in default. This brings up a default on a $3 million property that has only a $500,000 loan against it.
Leonard’s estate attorney contacts us when one of his heirs becomes concerned for his personal care and the administration of his assets. Because the property is in default, traditional banks will not lend to him.
We provide the necessary financing to pay off the defaulted loan and additionally, we provide cash liquidity for Leonard’s ongoing care and housing needs. The financing is in place in the course of four weeks, which allowed his heirs to place him in a safe environment where he can be cared for appropriately.
Rose City Realty Finance has relevant, timely experience in a number of financing areas and we are available to share our advice and experience to help you or your clients with a variety of property types and client situations!
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