Los Angeles County, CA – $770,000

Our borrower began construction on a new home in Los Angeles, anticipating that a bank would step in with construction financing when he was ready. Although very well qualified with a bonified takeout loan comitment, our borrower was caught by the credit crunch, with a half-completed home and declining property values. We worked closely with our construction manager and the title company to ensure a lien-free position, and provided the funding necessary to complete the project.