Have your recently inherited property from an estate that is currently in probate? Would you like access to some of your inheritance now? Obtaining your inheritance can take 24 months, so many people get an inheritance advance that provides cash immediately.
If you answered yes to both of the above questions, here are some reasons you should consider applying for probate loans California instead of a traditional loan:
Probate Cash Advances
Probate is a lengthy court procedure in which the court distributes the property of a deceased person according to their will, and unfortunately, it can take anywhere from a year to 18 months for the court to complete this task.
Naturally, many heirs need the inheritance they have been left, and most don’t like the idea of waiting up to a year and a half to get what they are legally owed. To obtain a probate cash advance, an heir simply needs to fill out an application with an accredited company. The company will evaluate the size of their inheritance, and once the heir is approved, they will be able to obtain up to half of the value of their inheritance at once. The other half will be paid to them by the court.
With most probate advances, there is no need to even repay the advance directly. Once the court releases the funds, the advance will automatically be paid off.
Traditional Loans
Most people are familiar with loans, which are sums of money given to an individual or company that must be paid back with interest. However, unlike probate cash advances, traditional loans come with the following drawbacks:
- Applicants must have a “good” credit score (usually 700+).
- Loans applications can take a long time to process.
- Applicants with lower scores are often subject to remarkably high interest rates.
Since borrowers are responsible for paying back the loan on their own, they will face a barrage of late fees if they do not pay on time. Lenders also have the right to report any late payments or defaults to major credit reporting companies.
Apply for an Advance Today
North Coast Financial is a leading hard money lender San Diego. Apply for a probate cash advance today by calling 760-722-2991.
