Find out what a Technical Default is and how it is handled. Carrie Cook and Pat Vassar discuss the initial steps of how Ignite Funding handles defaults. Part 1 of a 4-part series of the steps Ignite Funding takes during defaults.
Timecodes:
1:50 Technical Defaults & Forbearance Agreements
4:40 Inherent Risk- Borrower doesn’t make interest payment
5:35 WHY we visit our properties
10:00 Reasons there would be a slowdown in movement
12:00 Property Example and steps taken
19:00 Borrower hasn’t made interest payment... what’s next?
23:00 Check and Verify Time
Did you enjoy the episode? Make sure to follow the podcast and turn on notifications to get notified when a new episode is posted. Follow us on social media:
-Instagram -Twitter -LinkedIn -Facebook -YouTube -TikTok
Schedule a free Investor Consultation
Download FREE 8 Steps to Trust Deed Investing Whitepaper
Disclaimer:
Ignite Funding, LLC | NVMBL #311 | AZ CMB-0932150 | | Money invested through a mortgage broker is not guaranteed to earn any interest and is not insured. Prior to investing, investors must be provided applicable disclosure documents.
What happens when a loan goes into default? Part 4/4 in the Default Strategies Series. Get a behind the scenes look at how Carrie...
Pat Vassar, Director of Underwriting, sits down with Michael Johnson, the broker and owner of Trust Home Builders. Since 2023, Trust Home Builders has...
Meet our Borrower: Lokal Homes! Ryan Lantz, Co-owner of Lokal Homes, joins Pat Vassar, Director of Underwriting, to discuss Lokal homes. Lokal Homes has...
