A mortgage broker came to us in need of a quick business purpose 2nd Trust Deed on a borrower’s primary residence in San Diego. The borrower had a real estate development business in which he needed funds to finish subdividing land on his development project. He intends on subdividing and entitling the land where he then plans on selling it to another developer which will be the exit strategy for this loan. We were able to arrange financing on this in under 2 weeks.
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