Investor/Lender, 350K Short Term Loan Needed-18MM Collateral (Nashville)
|Location||:||New York, New York, United States|
|Posted by||:||Strickjw ( View user all ads )|
|Posted On||:||May 6, 2012|
We have two Senior Life Settlement Polices, one
for 10MM and the other 8MM. (Total $18,000.000 USD)
Owner purchased them as part of a block of policies for a long term investment.
Currently being managed under escrow by his attorney & financial advisor. Neither policy is encumbered & both are currently in force.
1. Owner wants to secure a loan for $350,000 for the 2 policies with a face value of 8MM and 10MM.
2. Owner will borrow the funds for a maximum of six (6) months.
3. Owner will pay note back in one lump sum at end of the six (6) months.
4. Owner may elect to pay loan back in less than 6 months, with no interest reduction.
5. Owner will pay 10% interest [$35,000] additional to principal [$350,000] return for the six (6) months duration (that is equal to 20% annual because term is less than a year, higher if paid off sooner.)
6. Owner will sign Promissory Note for the loan including all provisions for the securing of the Policies.
7. He is offering an Attorney issued SKR (Safe Keeping Receipt) verification for each policy.
8. 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 or Insurance Fees, or wire fees will be paid. (No Exceptions)
2. A copy of lender's agreement to these terms must be provided in writing.
3. Contact Name, phone number, name of company, and website (if available) will be required.
4. No lenders outside of the
5. The SLP's are to be accepted as stand alone collateral based on their face value.
6. Lender must have good knowledge of SLP's.
7. Loan repayment will be a balloon payment & if paid early will not reduce the interest amount.
8. Arrangements can be made to speak with the owner of the financial services who is the owner of the policies.
9. These policies are warehoused. The loan is based on FACE value not cash value. There are no current L.E.'s but that can easily be calculated. These are A rated policies but are not for sale.
No inquires outside the