El Segundo Trust Loan

North Coast Financial funded a $575,000 trust loan in El Segundo, California (Los Angeles County). A beneficiary needed a trust beneficiary buyout loan to raise funds to buy out siblings and prevent a property tax reassessment with Prop 19. The loan was secured against a single family residence owned by an irrevocable trust. The beneficiary was able to refinance into a long-term traditional loan once the real estate was transferred from the trust to the individual. The loan to value ratio was approximately 38%.