Sierra Madre, CA – $725,000

Cross Collateralization Program with No Payments for Four Months 

This investor bought a property intending to partially tear it down and build a new 1,800 square foot home for resale. However, he ran into unexpected issues with the City’s Planning Department, causing the initial loan used to purchase the property to come due.

The Bridge Loans, Inc. structured a new loan by cross-collateralizing his current residence with the property in question. This loan paid off the existing lender and required no payments for 4 months, giving him time to resolve the issues with the City’s Planning Department.