Default Strategies Part 1: The Value of Proactive Loan Servicing

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

Visit our website!

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.