Recent Hard Money Transaction in Los Angeles: $110,000 @ 11.50%, 2nd TD, Cash-Out, Duplex, 55.63% CLTV
Business owners sought a small $110K 2nd Trust Deed business purpose loan on this owner-occupied + rental Duplex in Los Angeles, CA. 100% loan proceeds will be used to upgrade and expand borrowers’ landscaping business. The borrower’s 1st mortgage is with Wells Fargo and has a principal balance of $326,707 with a fixed interest rate of…