Featured LoanHard Money Bridge Loan In Echo Park Los Angeles
Loan Amount: $550,000
Loan-To-Value: X% LTV
Situation & Challenge
COVID-19 just became an issue in the economy at the beginning of March. The buyer of this fixer upper needed to close quickly before conditions deteriorated.
Solution & Result
FCTD placed the loan with a family office in San Diego with a large portfolio of private money loans. The SD-based lender had funded numerous loans over the years in Echo Park and was comfortable at 65% LTV on this property even with the expectation that values will most likely deteriorate in 2020 due to market dynamics caused by COVID-19.