01.19.2021 – KD Commerce, LLC – Loan 4402 has paid off! You should expect to receive your final payoff check or direct deposit to your account within the next couple of business days. Click here for final payoff communication.
10.15.20 – Property sale to Edward Homes has been delayed but is still in progress. Click here for complete status update.
7.30.2020 – Investor majority elected to sell property “as is” to Edward Homes, as described in the ballot communication dated 7/28/2020.
7.28.20- Click here for detailed update on this loan and the three ballot options proposed to investors at this time. Click here for KD Commerce Q&A video.
3.3.20 – Investor majority voted to approve the Joint Venture Proposal to allow a joint venture with Edward Homes to finish construction of the homes on the finished lots, which is expected to result in an estimated loss of principal of 20% overall. Click here for the detailed update communication and ballot proposal dated February 28, 2020
8.16.19 – Investor majority voted to approve a continued forbearance of foreclosure on this property through June 30,2020 to allow the property to be sold to another home builder. Click here for the detailed update communication and ballot proposal.
3.6.19 – Mediation is underway between the borrower and the Homeowner’s Association to gain approval for updated architectural plans. Click here for detailed update communication.
1.17.19 – The property fell out of contract with LGI Homes during the 45-day due diligence period. The borrower filed an Alternative Dispute Resolution form with the State of Nevada to mediate the ongoing dispute between the Homeowner’s Association and the borrower. Click here for detailed update communication.
10.23.18 – Investor majority voted to approve to postpone the foreclosure process on the property and allow the borrower to proceed with selling the property to LGI Homes. Click here for detailed update and ballot proposal dated October 23, 2018.
