CENTRAL LOS ANGELES CONDO 2ND MORTGAGE


  • Los Angeles, CA
  • $20,000 Loan Amount
  • Condominium
  • 2nd Trust Deed

Hard money loan secured by a 2nd trust deed on a condominium unit in Central Los Angeles. The Borrower needed the funds to remodel the condo unit to increase its rental income. The estimated value of the condo is $210K. The 1st mortgage will remain in place and the combined LTV with this new 2nd is a little over 50% based on an internal review of value. The Borrower plans to pay off the loan in less than 12 months.