Redwood Road, Stourbridge - Renewal (2973262607) REPAID
Jan 9, 2019 20:51:32 GMT
michaelc likes this
Post by sarahcount on Jan 9, 2019 20:51:32 GMT
A nice straight forward bridging loan on an easy to sell modest house I thought. The loan renewed until September but then the borrower appears to have gone quiet.
In the face of apparently complete silence for over 3 months FS now say they will have to review whether defaulting the loan is appropriate.
What's to think about? If the borrower isn't playing ball and even feeding you with hopeful promises let's get the thing sold.
(I do recognise that this update is promising in that deadlines and defaulting is mentioned so perhaps a sign of a tougher new approach at FS.)
09/01/2019
We have not had an update on the exit of this loan, and repayment has not been forthcoming. We have advised the borrower that we need tangible evidence of their proposal to repay this loan or we will have to review if Defaulting the loan is appropriate. A clear deadline has been set and the loan will be reviewed after this.
25/10/2018
We have approached the broker for an update on the refinance and await their response.
21/09/2018
Unfortunately the clients original refinance has fallen through. They are in the process of discussing new options with a broker (whom we are in contact with) and we are expecting a further update early next week. We will continue to keep investors updated with any further progress
(Mods - please merge if you can find an existing thread)
In the face of apparently complete silence for over 3 months FS now say they will have to review whether defaulting the loan is appropriate.
What's to think about? If the borrower isn't playing ball and even feeding you with hopeful promises let's get the thing sold.
(I do recognise that this update is promising in that deadlines and defaulting is mentioned so perhaps a sign of a tougher new approach at FS.)
09/01/2019
We have not had an update on the exit of this loan, and repayment has not been forthcoming. We have advised the borrower that we need tangible evidence of their proposal to repay this loan or we will have to review if Defaulting the loan is appropriate. A clear deadline has been set and the loan will be reviewed after this.
25/10/2018
We have approached the broker for an update on the refinance and await their response.
21/09/2018
Unfortunately the clients original refinance has fallen through. They are in the process of discussing new options with a broker (whom we are in contact with) and we are expecting a further update early next week. We will continue to keep investors updated with any further progress
(Mods - please merge if you can find an existing thread)
