As lenders we underwrite our loans conservatively to prevent any sort of default BUT its inevitable to happen.   Some defaults may be minor (missed a payment, over the loan term etc...) while others may be worse (walked away from the project, seriously behind in payments, etc..)  You can make a business decision on how you want to default your client/borrower but its important to have options.  Your loan package (prepared by a competent Attorney) should have everything in there to protect you.  Your mortgage/deed of trust recorded as 1st lien position, promissory note outlining default actions, guarantee agreement to file judgements etc... Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

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