What Is a Probate Loan?
Probate loans are similar to other types of loans in that you’re borrowing money you’ll have to repay. The main difference between this and other types of funding is that you’re borrowing against your expected inheritance amount. Some people refer to probate loans as probate advances, but they’re not the same thing. An inheritance advance is a cash advance on your inheritance, as the name implies. Instead of requiring you to make monthly payments, the funding company takes a lump-sum payment from the inheritance.
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