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Updated over 3 years ago,
Investor not paying gap funder back
Hi everyone.
I am a gap funder. Have a second lien on this property. Our terms state that she was to pay me back by September 9th (including the 15th day grace period) and as of September 10th, she’d be in default.
Per all her texts and emails, she’s been saying she’d pay me back on time, or by a certain date but every time we get closer to that date, she changes the date or lies about how things are going. This most recent time she said she’d pay me by 09/28 (idk why that late she never provides good info or updates)
regardless as of September 10th she will be in default
I have a second lien, promissory note and joint venture agreement.
Has anyone persuaded legal recourse in something similar.
The property is in Utica NY