Home Mortgage Payoff and Site Plan Completion

Borrower required funds to pay off the first mortgage on their primary residence, as well as to cover costs associated with obtaining site plan approval on a vacant parcel of land owned by the borrowers. In order to obtain the full amount of funds needed, Hillmount Capital received collateral on additional properties. Once the site plan for the vacant lot has been approved and permits have been obtained, the borrowers will sell the land. The proceeds of this sale will be used to pay off the loan.