08.30.2023 – A principal paydown was processed today.  Investors should expect the payment to post to their accounts within a few business days.  The foreclosure date remains on hold as Ignite Funding continues to work with the borrower to achieve a resolution of this loan.  Click here for complete update sent to investors on 8/30/2023.

6.26.2023 – Foreclosure sale date has been delayed until July 27, 2023.

6.8.2023 – Foreclosure sale date has been delayed until June 21, 2023.

5.22.2023 – Ignite Funding postponed the foreclosure sale scheduled for 5/22/23 to explore the viability of a purchase offer for the property that would allow a 100% return of principal. The new foreclosure date is anticipated to be June 6, 2023, if the sale cannot be completed before foreclosure is necessary.

5.9.2023 – Foreclosure sale date is scheduled for May 22, 2023

2.21.2023 – The Notice of Default has been filed to begin the foreclosure process, as approved by investor ballot vote, on this property.  Click here for a copy of the filing and click here for what you can expect during the foreclosure process in the state of Arizona.  In addition, to view a video of Ignite Funding’s recent visit to the property you may click here.

1.12.2023 – Ignite Funding visited property and borrower.  Click here for details on the visit and status of the loan.

11.17.2022 – Investor majority approved foreclosure ballot proposal dated November 15, 2022.  Click here for the proposal and ballot communication sent to investors 11/15/22.

Original Loan Details