About Hard Money Loans (also known as Private Money Loans)

 

Whether you are an individual or an entity lending money, Sepulveda Escrow can draw your Promissory Note and Deed of Trust, along with additional documents as relevant to your transaction. In addition we shall do the work necessary to make sure the title to the collateral property is in the expected condition. Further, we shall make sure additional protections are in place to notify you of possible future concerns, which may arise in regard to the payment of taxes or a default on the senior loan(s).

 

Often we find ourselves making loans to help family or friends. Doing so should not put your interests and investments at risk. While we may have a personal relationship with the borrower it is still important to protect your family’s finances. Having Sepulveda Escrow document your Agreement and protect your interests is an important factor. While you can always extend yourself and continue to be an understanding friend or relative in regard to the repayment of funds, knowing that you have legal documents in place will give you peace of mind. In addition, when all parties know that they have entered a formal written agreement there is a tendency to respect the terms of the Agreement, which ultimately will translate to the repayment of the monies borrowed. This is certainly the positive result everyone desires!

 

About Refinancing Your Existing Loan

When you are in need of refinancing an existing loan that you have on your home or investment property an escrow is required by all banking and mortgage institutions. Sepulveda Escrow will work with your Mortgage Broker or new lender as well as your existing lienholder to help you accomplish your goal. As a neutral third party, your independent escrow company can help protect you during this process. Your escrow officer will gladly spend the time with you as we together examine your new loan documents; verifying the terms of your loan, as well as scrutinizing your overall closing costs to make sure it is what you negotiated and expect.

 

In the event your refinance requires a subordination of your existing loan, Sepulveda Escrow will work with your existing lienholder and submit all of the required documentation to obtain approval of the Subordination, ultimately allowing for the successful refinance of the property.

 

About Your Sale of a Trust Deed

Sepulveda Escrow can assist you in your sale or purchase of a Trust Deed. Your escrow will document the terms of the original Promissory Note as well as the terms of your Agreement to purchase the Note and Deed of Trust. In addition, we will draw the required documentation to assign and transfer the Trust Deed to the new Buyer.

 

With the Sale of a Trust Deed all original documents must be deposited into escrow, such as the original promissory note, deed of trust, fire insurance policy, policy of title insurance and any other relevant documentation. As customary with all escrows, Sepulveda Escrow shall hold and safeguard all documents and funds as submitted into escrow until the parties comply with each and every condition of the Agreement. At the time of closing, your escrow officer shall record the Assignment of the Deed of Trust and obtain the proper endorsement to the previously issued title policy which shall further protect the Buyers interest. Upon issuance your transaction shall successfully close with the release of all funds and documents as required.