Working with these two ladies made it so much easier. A deed of reconveyance is a legal document that indicates the transfer of a property's title from lender to borrower - legally referred to as the trustor - in deed of trust states. We would not hesitate to suggest Grandview Lending along with Mike Farrell / Faye Fitzgerald team. amazing job! They made the whole Process of buying a house much easier than expected. That said, your lender must be on board. Whether you just want a lender with a personal touch that sees you as a person instead of just another loan, or you have a challenging situation that scares the big banks away, Grandview can deliver. (5) "Residential property" means real property improved by four or fewer single family dwelling units that are designed principally and are intended for human . runs smoothly and communicate every step of the way. for our home. (Note: Some lenders may not extend loans to trust properties. Our Stated Income 2nd Trust Deed loans can be used for residential and commercial properties. I appreciated his honestly and excellent customer service. The people who work there have been absolutely the utmost professionals. They're going to tell you to pull it out of the LLC or trust so it's best to do it before going to them. Cornell Law School. Was a quick and easy process through Grandview. Surprisingly, after a little past a month, we were where we needed to be! was less than three weeks. Does a Deed of Trust Change When You Refinance? | Pocketsense Our loan amounts range from $50,000 up to $2 million. Excellent service and super helpful staff and lenders. The money from the new bank gets used to pay your old bank off. would love to do business with this professional again! We had a great experience with Grandview Lending. Kimberly Irving helped make my first home buying experience thoroughly enjoyable! The 6 Biggest Mistakes Refinance Shoppers Make And How To Avoid Them All! Thank you so very much for your diligence in all you do. We went into it with a lot of questions and they were always. The mortgage was put together and approved within a month with a very competitive rate, much better than I could ever expect. He was extremely knowledgable, and Faye kept us on track throughout the entire process. He was professional and most of all patient. Grandview is lucky to have her on their team and Im even luckier to have her on mine! Thanks crew. I recommend them to everyone that is looking for a great team to work with. There were no set hours, she worked 24/7. Highly recommend!! Overall, I really enjoyed working with Tracy and her team. explained the whole process well. The sellers wanted the house to possibly close in the. Hard Money Lender since 2003 | Vantex Capital Group In Brown v. Jensen the defendants bought their home from the plaintiff with purchase money borrowed from Glendale Federal Savings & Loan secured by a 1st Deed of Trust and the plaintiff carried back a portion of the purchase price secured by a 2nd Deed of Trust. I highly recommend. She completely took care of the process from start to end. And that he did. Actually, two deeds will need to be prepared and recorded with your county registrar or recorder. SB 1178 serves to broaden 580b with the following new and improved additional language: "For purposes of this section, a loan used to pay all or part of the purchase price of real property or an estate for years shall include subsequent loans, mortgages, or deeds of trust that refinance or modify the original loan, but only to the extent that the subsequent loan was used to pay the debt incurred to purchase the real property. I had a great experience working with the office. processor Pam. He is worthy of more than the above five stars. himself with the highest level of integrity and truly listens to your financial needs and concerns. It is essentially an undertaking given by you that you are depositing the title documents of the property with the bank at your own free will in return for a loan. The customer service was excellent. He is affable, timely and patient. Tracey Harding and her team are amazing. Unfortunately, many folks lost that protection when they refinanced as the law, Civil Code of Procedure 580b, only applied to the original loan. Some states use deeds of trust instead of mortgages. What Is A Deed of Trust? | Quicken Loans were always accessible via phone or email-my choice- and were accessible/swift. They. I cannot recommend this company and the people that work there enough. He has been my go-to person and I do not hesitate to recommend his services. Deed Of Trust Vs Mortgage | Bankrate I don't even know where to begin in describing Tracy Harding. Documents evidencing and securing the . Additionally, you may need to have your attorney draw up a warranty stating that the property can be used as collateral on the new loan. December 18th, 2013 Do you own a property that's included in a trust? - Loan amounts 250K Min to 500K Max. Assets used to collateralize commercial finance loans, aside from the real estate, may include fixtures, equipment, bank and/or trade accounts, receivables, inventory, general intangibles, and supplies. We built so there was a lot of pressure from the builder to go through their financing, by staying with Tracy at Grand View Lending she saved us thousands of dollars, with the financing time being excellent. This was. The unfortunate story of a transitioning veteran at times. It was like we were family to them, although i suspect they treat every one of their customers with the same respect, courtesy, and care. First, a trust is a legal document set up by someone whos wants to protect their assets, including homes and other real estate, from probate court. My husband and I purchased a home last February 2018, and used Grandview Lending for our mortgage. experiences. process, Tim Egan explained explained everything to me from start to finish. Once the old bank gets the money, it issues a document called a reconveyance that takes the title out of the trust set up by the old deed of trust. Copyright 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. "Commercial Real Estate FAQs: What Is the Difference Between a Mortgage and a Deed of Trust?" Know exactly what you can afford before you search for homes. Contact California Hard Money Direct now to request more information regarding a private 2nd mortgage. too much trouble. Obtaining a second trust deeds loan at competitive rates and with a quick turnaround is possible with HCS Equity. We appreciated Tim's great patience as he guided us through the whole loan process. All of this gets handled at the closing of your refinance. You must provide adequate insurance and a clean title to the property so that the . She is very. again I hope & pray that would be smooth like this was. Alternatively, the second trust is great if you know how much you will need, and you know that you will need it all at once. They were trustworthy and honest with every single thing that could happen. I remember the first thing he asked me was to tell him what was going on, what did I need. Her rate and closing costs were cheapest that i found. 2nd Trust Deed Loan | Aegis Funding And you might learn a thing or two about the mortgage biz from Mike as he is a straight shooter and makes sure you understand the whats and whys, I worked with Tim and he was a true pleasure to work with. The whole idea behind the purchase money rule is that the borrower would not have been able to buy the home without the lender, that lenders are more sophisticated than borrowers, and therefore lenders should bear the risk if they make too large a loan for a given property basically eliminating the lenders' ability to come after the borrower personally should the borrower default, and there not be enough value left in the property to cover the loan. Investment: $85,000 LTV (in months): 12 Months Average Interest: 15% Second trust deeds aren't an issue for homeowners in 36 states. Our proprietary Lending Platform Technology allows us to qualify Salaried or Self-Employed Borrowers quickly, even those who are in a Pre-retirement or Post-retirement position, while offering the most valuable, aggressive 1st and 2nd Trust Deed California Mortgage Loan Products. My experience with Tim Egan at Grandview Lending was phenomenal. She was very transparent on how the process works and what we needed to do. what no one else can do, and make you feel good about it while they do it. They been so helpful through the, beginning till the end. decisions. It means so much that while others literally ignored us and didnt even offer a word of advice, Mike was there and believed in us. We have worked with Kimberly Irving and Grandview in the past and were happy to do so once again. I would definitely recommend this lender to friends and family. We partner with our clients, walking shoulder to shoulder with them through the financial maze that mortgage lending has become. Additionally, youll need to determine if the trust gives the trustee the power to take out a mortgage on the property; and, if the trust allows the property to be used as collateral or security for the loan. When I called him back in April 2019, I was pleasantly surprised that not only were we able to get pre-approved for our dream home, that there was no contingency to sell our current home. To anyone reading this, Kameron Struble is the best -he has years of experience, and is extremely trustworthy - helping me first as a single woman purchasing a home. arrangements. Worked with Tim Egan and his team at Grandview to complete a refinance earlier this year. We were told by others to maybe try again in 6 months or a year! - Primary, Secondary, or Investment 2-unit Loan Product in CA. That is until I met Tracy.Initially I was hesitant to reach out to people to initiate the mortgage process. Visit our Support Center | Privacy Policy | User Agreement | Do Not Sell My Info. "Deed of Trust." Kim and Lesley are amazing. In mortgage business time is the essence and with Mike's amazing support and education about the whole process, I was able to secure a great mortgage rate. This is the second time I have used Kimberly Irving for the refinancing of my home and she has been. On the contrary, SB 1178 will broaden the borrower's protection. I had a great experience working with Kimberly and her team Lesley. Highly recommended! I not only had Tracy help with buying my personal home, I refer. At the closing, the property's owners sign and notarize the deed of trust. other lenders flat turned us down. Tim was accessible and responsive and set me up to work with Pamela Gaither to get docs in place for the closing. She was available via email and/or text 24/7 any time of the day. Roberto, the holder of a $100,000 first trust deed note, wants to borrow $30,000 to build a house. So SB 1178 applies to the refinancing of a loan used to purchase the property, regardless of whether the loan has senior or junior status, most commonly a 1st deed of trust and a 2nd deed of trust. I had rate options from other lenders and mortgage brokers as well, but nothing could beat what Mike provided. After doing a google search, i came upon Grandview lending. He is very knowledgeable and clear. Love work with this group of people. Yes, you can. I had a great experience working with Kimberly and her team Hillary and Lesley. Please dont go to any other lending companies before you check out Grandview Lending. We provide our clients with exceptional service and integrity which has become our hallmark. Connect with 4,000+ of your favorite apps and services. We were able to get. Awesome rate and customer service! Trust Deed: What It Is, How It Works, Example Form - Investopedia This was our second time using Tim Egan and his. The total experience was AWESOME!! If I had any questions Kimberly and her team were jolly on the spot. Mike is so knowledgeable and accessible. sister and brother-in-law. Frequent. if foreclosed through a trustee's sale. My husband and I had a great experience with Grandview lending. Thank you for making it an enjoyable experience. The service we received was top notch. With your help, we are now able to enjoy a considerable savings over our previous loan terms. Let's take a brief look at how this plays out. Better rate and way faster closing process. Thanks so much Tim! If it doesnt, the trustee cannot sign the mortgage. They were professional, attentive, very knowledgeable, thorough, and very relatable. I have already referred a couple of friends to him and if the need should ever arise, Grandview is the only mortgage lender for me! But the difference between a deed of trust and a . I don't. We had a VERY SHORT closing period, and it all got done on time! I spoke with Tim and explained our situation of moving in a few months and was looking to see if buying was a possibility. Grow your business with data. HMDA and Reporting Second Mortgages -- QuestSoft knowledgeable about the lending business, extremely patient and trustworthy. I would HIGHLY recommend anyone looking for a mortgage to work with the Grandview Lending team! A deed of trust is the legal document that sets this up, and it's referred to as a security agreement because it gives the lender security that you'll pay your loan. Excellent service all around. A trust deed investment occurs when an investor or mortgage pool purchases either 100% or an undivided portion of the note and trust deed. California Real Estate Hard Money 2nd Mortgage Lenders He cared. We will definitely use them for all of our future financial needs and have recommended our family and friends to them as well. Made for a much less stressful experience which is often not the case. and couldn't be happier about my choice. I had some documented issues upon returning home, such as unemployment and returning home severely injured. Highly recommend these folks! Once the title is reconveyed back to you, it's yours to pledge to someone else. to ensure everything went smoothly and fast.Grandview Lending prove they want and appreciate your business. She was very quick to answer all 1,000 of my questions and. Amazing experiences, every single time, Tim was a God sent and helped me close and quickly down to the very last day!! Grandview is paid was paid by the title company so it didn't cost us a dime. 2nd Trust Deed Loans CLICK HERE FOR A LOAN APPLICATION FREE QUOTE! Kimberly Irving and the team at Grandview Lending, Inc are an absolute pleasure to work with. Great Job everyone that was involved in helping us!Thanks! I highly recommend using Tim and we will go back again if we have any other financing needs. The trust will be liable for repayment of the loan; and the property being refinanced will be used as collateral. Great & easy to work with. Grandview did a great job! Lower your interest. Mike and Faye are amazing and always available for any questions that we may have along the way. Thank you, Tracy and Team, for all you did to help our family! Thanks for taking such good care of us Tim. He was able to find me a loan quickly. Kameron and Lesley were fantastic to work with during my loan process. For some banks, apart from the loan agreement, the undertaking needs to be registered and . I probably asked a million and one questions and they answered every one quickly and happily. We had even been downright ignored by others. Tim seemed like family by the time this process was over. I cannot speak highly enough about my experience with Mike Farrell and Faye Fitzgerald. that we wanted to be in! She and her assistant Glenn Hubbard walked me through every step and made sure I understood everything that was going on. Tracy had connections to a realtor and insurance agent, so we had a close knit team, which helped with easy communication. I smile just hearing his voice and couldn't wait to meet him in person at closing. Note that the protection would still NOT extend to owners that did cash-out refinances, and that makes sense. Im going to tell him i have credit issues and hes going to get off the phone as soon as he can and ignore me like the others. What happened next was the exact opposite. Honest, forthright, no gimmicks, just great people who want to make your experience the best for you that it could be. 2.For the purpose of distributing properties of a Settler among his family or those for whom he desires to provide for or for the purpose of providing for some person dependent on him, or. She aims to please every time! If youre looking to refinance a property held in a trust, contact the mortgage specialists at, We enjoyed working with the staff at Grandview Lending. outstanding from day one until close. He is extraordinarily knowledgeable and his communication is perfection. I thought great. We can review your trust documents with you to determine what needs to be done to accomplish your refinance; and well work with you throughout the loan process. Thanks Tracy and Laura for making this happen. say my situation was more than challenging and Tim handled it with logic, support and care every step of the way. Tracy got us the Clear to Close in 3 weeks!! Frank, the trustor, made $200,000 in payments before going into default. STAND ALONE 2ND TRUST DEEDS! | Dan Cassel - Trinity Mortgage !I will definitely look to you for future real estate endeavors!! Have already referred our son to Tim for a mortgage and look forward to working with the good folks at Grandview in the future. He was professional, straight forward, prompt, helpful, &. Very refreshing. Once the document is signed, the closer will send it to the appropriate government office to be recorded. The. Thank You all so very much for everything you all did for me. PO Box 837, Truckee, CA 96160. The kicker is, my FICO score is 592. Between the time I looked at the house and closed, it. A trust deed investment is considered to be a fixed income security. I'll be doing more business with Grandview in the future and would highly recommend their team to anyone else who might be looking for a competent, ethical, and attentive broker. Lander holds a Bachelor of Arts in political science from Columbia University. The level of service she provided my husband I was above. Highly recommend! The bank remains the owner of the . We were once again extremely satisfied with their outstanding customer service and quality work. "How Does Foreclosure Work?" Non-occupant borrowers are credit applicants on a principal residence transaction who. helpful and made the process so easy. We have previously used Grandview lending and will continue to recommend and use Grandview Lending in the future. There were no delays with closing, in fact, no delays of any sort. I was on Active Duty as a combat medic, with 15 months in Afghanistan. Everyone from Kimberly to Greg to Jessica was awesome. Tracy and her team did an excellent job with my loan got it done before We were supposed to close. easy! Great experience and very professional!!! Emails were answered very quickly. She was willing to jump on the phone at a moments notice and track anything down for me to help me out. I'll never waste time with the others again. We were able to lock in to a mortgage re-finance well over a point lower than our prior rate, as well as eliminate student loan debt and reduce 5 years off our mortgage. Unfortunately toward the end of my deployment, I returned home disabled after an RPG blast. This is the second. You make the process so easy and fast! We had a great experience with Grandview Lending. occasion. I would highly recommend this team on your new mortgage or refinance. As a part of the new loan, you'll sign a new loan agreement and you'll also give your new lender rights to your home's title. I can't begin to express what a great team they are and I will always be thankful for them. American Bar Association. Thanks Mike and Grandview for all you've done for us! Tracy and Laura were AMAZING! How to Refinance a Property Held in a Trust | Mortgage Lender What Is a Second Trust Deed & When To Get One? - Val-Chris Investments I used Tim Egan to process our refinance about a year ago. She let me know the interest rates every day and how they were changing so we knew best when to finalize. Thank you for a smooth transaction during a very busy time in our lives! They get everything you need done in the speed of light compared to others and they treat you like family. It is a means of tax avoidance. Amazing Support, excellent customer service, everything on time, constant communication. When you have a second mortgage on your property, refinancing becomes a little bit tricky. Pam was also a pleasure to work with - extremely professional, knowledgeable and completely on top of all the documentation required so that the closing went smoothly and without a hitch!! Thanks for going way above and beyond, Tim. We are telling everyone we know to contact Tracy before starting their home buying process. He listened. We are in our wonderful new home because of him, and much sooner than we couldve ever hoped for. They were able to complete everything and pull off our closing 3 weeks after our offer was accepted. Cant say enough about this team! I really cannot say enough about them, we are so happy and lucky we found them! worked diligently throughout the whole process. The turnaround time was very quick. If I called or text he responded immediately. We are repeat customers and couldn't behappier with our. Tracey helped my wife and I get our credit score. all of our questions were answered very quickly. It works similarly to a mortgage, though it's not quite the same thing. My experience with Grandview Lending was amazing. do not occupy the subject property; may or may not have an ownership interest in the subject property as indicated on the title; sign the mortgage or deed of trust note; have joint liability for the note with the borrower (s); do not have an interest in the . We will continue to recommend them to our friends and family. What an Awesome Experience! The reason we keep coming back is their quality of the service, the amount of personal customer service we receive (Tracy & Laura were outstanding! Kimberly,Lesley, and, Hillary worked extremely hard. A settlement deed is a non-testamentary disposition, in writing, of movable or immovable property made. SB 1178 to protect borrower on refi purchase money second mortgage I wholeheartedly recommend Grandview to anyone looking for the best mortgage possible. He said he would check back with us later, and he did. !The process of refinancing my home was made so easy by Kimberly Irving. 6 Credit No-Nos to Avoid before Buying a House. Throughout the whole month, they were always available via call, text, and email. many questions and concerns about the home buying process. stuff and can navigate even the trickiest of situations! A deed of trust, sometimes called a trust deed, is a security agreement. loan, and made our needs a priority every step of the way. A trust can be cancelled on the following grounds as per Sec. I have never seen such a hassle free process in any of the dealings I had so far. My experience with Grandview Lending was superb! Tracey and her team were amazing to work with. Thank You Kimberly Irving, Staff and Grandview Lending for everything! Michael and the team were great at communication, fast turn around time, but most importantly explaining and answering any questions I had about such an important piece to the home buying process. recommend his services to anyone in the market to buy or refinance. He kept in close communication with all parties involved until the very end. Kameron and Team are AWESOME! Very pleased with the service provided by Tim and his team at Grandview Lending. He sent several emails on the plan moving forward. Tracy at Grandview Lending was amazing! I just moved to Indianapolis and I am looking at what my options are to purchase my first home with a VA Home Loan. He also helped me find a great Real Estate Agent. There was at no time during the process that I wasn't kept informed of what was going on. phone and in person, he made the process seamless, along with his processor Laura. Consumer Financial Protection Bureau. "Refinancing" means the replacement of a loan secured by a prior mortgagewith a new loan secured by a mortgage, deed of trust or other instrument andthe payment in full of the debt owed under the original loan secured by theprior mortgage. 1st, 2nd, 3rd, and 4th Trust Deeds; Loan amount from $50,000-$40 million; Single Family, Multi-family, Commercial, Industrial, and Land; Loan-to-Value up to 70% (deal specific) The process was smooth, easy all the way through. He provided me with many options including lower. He is very. We had a lot of questions, but all were answered immediately and completely to our satisfaction. However, if the property can be used as collateral, the lender may require you to re-title the property first, which means the property will need to be taken out of the trust and returned to your personal ownership before you can obtain a new loan. Do you own a property thats included in a trust? I had a good experience with the Grandview team, they are all amazing. We have had two great experiences and outcomes using Grandview Lending. Every loan is different. Solid credit. Hot Loan Product #4 is for all states except Hawaii, Texas, NY, Vermont. I would go with Tracy and Laura again in a heartbeat! We are up to three times now that my family has used Grandview Lending for our mortgage needs, this. I highly recommend you give them an opportunity to earn your business. They went above and beyond to take care of our needs and make it as painless as possible. My experience with Grandview was GREAT. Before you can give your bank a new deed of trust, you need to get your other bank off of your property's record. are very attentive to the needs of our co-clients and bring a high level of professionalism. The Team at Grandview Lending were amazing to work with. Thanks ladies for making my transition into my new home as easy as possible. Quicken Loans: Know Your Mortgage: Subordination. We recently purchased a new home and the work/tools Tracy provided were the tipping factor that pushed our offer above the rest (sellers told us this at closing). They were all very patient with us and. The answer is No and the enactment of SB 1178 amending CCP section 580b does not change that. We hit several snags on the lender's end of things, but Tim and Laura were able to adapt very well and make it happen.I presented them both with a fairly challenging situation as I was processing two mortgages simultaneously. They were very efficient and. for a recent refinancing of our home. I recently used Grandview Lending for my mortgage and the experience was excellent. You did a great job of follow through to get everything over. We were able to find the perfect house and Tim and his assistant Laura did an outstanding job on processing the loan in a professional and timely manner. Including traveling to my place of work to pick up paperwork to keep the process moving. So we listen to our clients to help them assess the impact their mortgage decisions have, not only today, but tomorrow. If you pay your loan, the trustee doesn't do anything until it gives you back your title once the loan is paid off. I highly recommend Kimberly for your lending needs. I highly recommend Grandview for your financing goals, Grandview Lending is a world-class brokerage service. Low Fico OK. Rates aprox. He helped me refinance my home. Residential and Investment loan options in San Diego, CA | Dan Cassel Tracy and her team, Lindsey and Laura were phenomenal! Mike and Faye were always accommodating, communicative and compassionate about the obstacles you sometimes come in contact with during a real estate transaction (appraisal value in my case). He took. The service from Michael and his processor Faye was terrific. state and most local lenders did not want the hassle of a long distance relationship. Her pricing is tough to beat and customer service is second to none. Thank you guys. Every time I had a question they would have an answer for me.The turnaround once we began working together was very fast and the price I inquired about was met.Thanks for all the HELP. He gave me some homework assignments, which I completed. They work quickly and efficiently, which are hard to come by when it comes to home loans. I appreciated the timely communication, and I had all the confidence that they would meet our quick timeline for getting to closing. The lender gives the borrower the money to buy the home in exchange for one or more promissory notes, while the trustee holds the legal title to the property until the loan is paid off. I would highly recommend anyone the needs to refinance or just to purchase a new home.Go to Grandview Lending! Businesses of all types use public records data to discover new customers locally. Thank you so much for your professionalism Tracy, Lindsey, and Jennifer and anyone else behind the scenes. Connect directly with owners. and I to explain everything related to the process. I rarely had to wait for a call back from Tim as he was virtually always available whenever I would call.
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