How to Get Estate Loans QuicklyMarch 8, 2023 12:00 pm
If we believe what we see on TV or in the movies, then as soon as someone dies the heirs get access to the money in the estate. In reality, the process takes much longer than that. The estate needs to go through the process of probate and administration before the executor can release funds to the heirs. But, what happens if you need money before that process is complete? Can you use an anticipated inheritance to secure estate loans during that time? The answer is yes, though the process is not the same as it is for other types of lending.
You may have heard the following terms
- Estate Loan
- Estate Advance
- Inheritance Advance
- Probate Loan
- Probate Advance
Have you wondered what they mean? Do they refer to different things or the same thing?
It depends on who you are asking.
Loans vs. Inheritance Advances
The big difference is whether you are looking for a loan or an inheritance advance.
In a loan, you are borrowing money and using an anticipated inheritance to secure the loan. It is similar to other types of borrowing where you use collateral to secure your repayment of that loan.
An inheritance advance is different. In advance, a third party purchases all or part of your portion of an estate. You do not have to use your credit to qualify for an advance. You do not have to show an ability to make payments. You do not have to begin repayments before the estate is settled. Instead, when the estate settles, the third-party gets their portion of the money directly from the estate.
Many people who ask about estate loans actually want estate advances. They want to be able to access money from their inheritance before the probate period ends. You can get an estate advance through us. We assess the value of the estate and the value of your anticipated inheritance. Based on that value, we buy a portion of your inheritance from you. We get paid when the estate settles. We also take the risk that there will not be sufficient assets to pay our claim at the time that the estate settles. For those services, we charge a fee, which is included in the portion of the estate that we get once it is settled.
To get started on an inheritance advance, contact us today. In many instances, you can have your inheritance advance money within a couple of business days.
Categorised in: Uncategorized
This post was written by Inheritance Loans USA