Who are my servicers/trustees and what do they do?
What happens if the borrower misses payments?
What documents protect my interests?
How can I use IRA funds?
What’s the minimum that I can invest?
What is the normal term of a loan?
Can I pay it off early?
What if I can’t make my payment?
Typically, missing payments means the borrower can not afford the property and the borrower should sell the property to recover the equity and to payoff the loan. The lender always has the recourse to commence foreclosure and sell the property at foreclosure to recover the money that the lender lent to borrower.
Broker of Record CA Bureau of Real Estate #01882855