Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.
Is your family preparing to go through the probate process following a loved one’s death? You might have to wait months or even years for probate to end. You’ll need to find legal assistance for probate in many cases, which can dramatically slow the process.
Why not look into the possibility of taking out a probate loan? Also known as inheritance advances, probate loans can put cash into your pockets and prevent you from having to wait for your loved one’s probate process to conclude, giving you an extra financial cushion during a very difficult time.
Some people worry about the interest rates for non-recourse probate funding, but you won’t need to be concerned about this when you apply for one through Rockpoint Probate Funding.
What Is a Probate Loan?
A probate loan is a type of loan you can apply for when you’re waiting to receive an inheritance from a loved one. Many families have no choice but to wait for extended periods for inheritance money to arrive while the probate process plays out. Probate loans are an effective way to circumvent this problem.
When you take out a probate loan from a lender like Rockpoint Probate Funding, you will quickly acquire the cash you’re looking for as long as you’re approved for it following a brief risk assessment. In exchange, you will agree to provide a percentage of the inheritance you eventually receive from the executor for a loved one’s will to Rockpoint Probate Funding.
In the meantime, you can use a probate loan for just about anything you would like. Whether you wish to pay down outstanding debt or put up a downpayment on a new home, you can do it with the funds provided by Rockpoint Probate Funding.
Why Should You Only Apply for Non-Recourse Probate Funding?
If you ever decide to apply for probate funding, do yourself a favor and make sure you’re applying for non-recourse probate funding as opposed to going the traditional route. There is a big difference between these two forms of funding, even though they’ll both provide you with the cash you’re trying to procure.
Non-recourse funding is fundamentally different from a traditional loan. You won’t have to repay the money you receive with this funding since it’s connected to the outcome of your loved one’s probate case. In other words, if you don’t receive a dime as an inheritance, you won’t need to repay Rockpoint Probate Funding.
What Are the Interest Rates for Non-Recourse Probate Funding vs. Other Types of Probate Funding?
Rockpoint Probate Funding is far from the only lender providing individuals and families with probate funding. However, not all lenders supply people with non-recourse probate funding as they should. This is why it’s crucial to know the difference.
The interest rates for non-recourse probate funding are 0%, as you will provide Rockpoint Probate Funding with a portion of your inheritance rather than making payments on the money you borrowed. This differs from other types of probate funding, which may subject you to monthly high interest rates that will cut into your inheritance money.
Ideally, you should shy away from applying for probate funding that will include an interest rate like this. This kind of funding could create financial complications when you collect an inheritance down the line. It could even leave you with nothing or put you in a position where you owe more money to a lender than you inherited from a loved one.
Are There Any Funding Fees for Probate Funding?
There are funding fees for probate funding when you apply for this funding through certain lenders. They’ll either use these funding fees to sweeten the deal for themselves or, if they’re considerate, use them in place of high interest rates.
Just like Rockpoint Probate Funding has 0% interest rates for non-recourse probate funding, you’ll also find that the lender has no funding fees. The only aspect of your funding you’ll need to monitor is the percentage of your inheritance you’ll give Rockpoint when the time comes.
How Can Non-Recourse Probate Funding Benefit You?
Non-recourse probate funding benefits you in many ways. It can, of course, set you up with the inheritance money you need from a loved one now and help you avoid having to wait for a long time for it.
Other benefits of non-recourse probate funding include:
- You won’t have to stress over high interest rates for non-recourse probate funding.
- You won’t need to make monthly payments on this type of probate funding.
- You can spend this kind of probate funding on almost anything once you receive it.
You’ll also be pleasantly surprised to see how fast you can apply for non-recourse probate funding and receive money once approved. Apply now, and you may find your probate funding waiting in your bank account within a matter of days so you can begin using it immediately.
Avoid Paying High Interest Rates for Non-Recourse Probate Funding With Our Help
Could you use the inheritance money you’re scheduled to receive from a loved one following the probate process now? Rockpoint Probate Funding can offer the cash you need without forcing you to put up with high interest rates for non-recourse probate funding. We also strive to make the application process seamless so you can apply for the money you need in minutes.
Call us today at (888) 263-8588 if you have questions, or check out our blog for tips on selling probate property.
