Investor/Lender, 350K Short Term Loan Needed-18MM Collateral (Nashvi
|Location||:||Honolulu, Hawaii, United States|
|Posted by||:||Strickjw ( View user all ads )|
|Posted On||:||Apr 21, 2012|
We have 2 Senior Life Settlement Policies, one
for 10MM & one for 8MM - TTL 18,000.000 USD
Purchased as part of block of policies for long term investment. Currently being managed under escrow by attorney & financial advisor. Neither is encumbered & both currently in force.
1. Owner wants to secure loan for $350K for the 2 policies with face value of 8MM and 10MM for maximum of 6 months.
2. Owner will pay note back in 1 balloon pmt. at end of the 6 months but may elect to pay loan back in less than 6 months, with no interest reduction.
3. Owner will pay 10% interest [$35,000] additional to principal [$350,000] return for the 6 months duration which is equal to 20% annual since term is less than a year, higher if paid off sooner.
4. Owner will sign Promissory Note for loan including all provisions for securing Policies.
5. Owner will offer Attorney issued SKR (Safe Keeping Receipt) verification for each policy.
6. Attorney will provide proof of premiums paid & demonstrate verification of policy assignment for loan duration period.
Must be able to close in 7 days***Serious Inquires Only
1. No up front fees, Insurance Fees, or wire fees will be paid. (No Exceptions)
2. Copy of lender's agreement to these terms must be provided in writing.
3. Contact Name, phone no., company name, & website (if available) are required.
4. No lenders outside of US will be considered except with solid proof lender is reputable.
5. SLP's to be accepted as stand alone collateral based on face value.
6. Lender must have good knowledge of SLP's.
7. Loan repayment will be a balloon pmt, with no interest reduction if paid early.
8. Can arrange to speak with owner of financial services who is the owner of the policies.
9. Policies are warehoused. Loan is based on FACE value not cash value. Currently no L.E.'s but can easily be calculated. These are A rated policies but are not for sale.
No inquires outside