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Updated 4 months ago,

User Stats

299
Posts
48
Votes
Raj G.
  • Investor
  • Jersey City, NJ
48
Votes |
299
Posts

Private lending to LLC with First lien on default

Raj G.
  • Investor
  • Jersey City, NJ
Posted

I did a private lending , borrower bought house under the name of LLC, first lien recorded. value of house is at least to cover the loan(as of now). I have personal guarantee, Mortgage note, promissory note.

Now borrower(investor) neither paying monthly interest, nor responding to any phone call etc.

What should be my immediate action. or series of steps.

Definitely I will reach out to attorney. but in the mean time, I though asking here, if anyone has any advice.

Thanks

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