3.21.24 – Ignite Funding is working with local law enforcement and code enforcement to ensure that this property is secured, as there have been reports of trespassing. Once the property is secured and compliant with the local code enforcement standards, the property can then be listed for sale.

1.17.2024 – Ignite Funding is in the process of listing the property for sale with an outside broker, with the expectation that the listing will be done within the next six weeks. In the meantime, Ignite Funding has been marketing the property for sale and vetting offers from potential buyers.

11.06.2023 – Property successfully taken back through foreclosure at the Trustee Sale on November 2, 2023.  Click here for a copy of the Trustee’s Deed of Sale recording.  The property is currently in the process of being marketed for sale.

10.10.2023 – Foreclosure sale date is scheduled for October 20, 2023.

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