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Updated almost 7 years ago,

Mindy Jensen's profile image
Mindy Jensen's profile image
Mindy Jensen
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Mindy Jensen's profile image
Mindy Jensen's profile image
Mindy Jensen
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Mindy Jensen
Pro Member
  • BiggerPockets Money Podcast Host
  • Longmont, CO
10,044
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7,340
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Creative Real Estate Financing

What Happens If My Private Borrower Doesn't Pay Off The Loan?

Mindy Jensen
Pro Member
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorPosted

I made a loan to someone last year. They have always paid on time, but asked for an extension. I extended 3 months, but am not comfortable extending further.

What are my options if they simply cannot pay the loan back when it is due? 

Interest only, 1-year term, extended 3 months.

  • Mindy Jensen
  • [email protected]
  • Podcast Guest on Show #261
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