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Updated over 4 years ago on . Most recent reply

Vania Castillo's profile image
Vania Castillo's profile image
Vania Castillo
  • Investor
  • from New York City, NY
  • Member since Jul 4, 2013

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Vania Castillo's profile image
Vania Castillo's profile image
Vania Castillo
  • Investor
  • from New York City, NY
  • Member since Jul 4, 2013
Vania Castillo
  • Investor
  • New York City, NY
50
Votes |
137
Posts
Tax Liens & Mortgage Notes

The holder of a note died!

Vania Castillo
  • Investor
  • New York City, NY
Posted

Hello BP member!

I issued a secure note to a LLC of a sole member, he unfortunately died this week. The note is backed up by a property and is a commercial note due to mature on October 18, 2020.

I'm not expecting anyone stepping up to continue paying the monthly interest and then pay the principal back in October.  What are my options to recover the money?

Thank you in advance for your input!

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Chris Seveney's profile image
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Chris Seveney
  • #1 All Forums Contributor
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  • from Virginia
  • Member since May 23, 2015

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Chris Seveney's profile image
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Chris Seveney
  • #1 All Forums Contributor
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  • from Virginia
  • Member since May 23, 2015
Chris Seveney
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  • Virginia
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

@Vania Castillo

Ned Carey hit nail on head. What state is it in? I can probably refer you to a good FC attorney.

  • Chris Seveney
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7e investments
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