First Capital Trust Deeds worked with an entrepreneur in Los Angeles who needed funds for a new entertainment project they were embarking on. The borrower used their primary residence as collateral for a business purpose second trust deed to get the loan completed.
FCTD has a few trust deed investors that are comfortable with business purpose seconds on primary residences. Some lenders have FCTD draft docs while others use their real estate attorneys to review all documents and make sure everything is done in accordance with the state of California laws.
Private Money Second Mortgage Details
Loan Amount: $250,000
Term: 12 Months