LTV Fund/Tyler Crawford agreed to give my Hawaii tenant a loan to purchase my home in 2016. The loan was for $725k and there was a balance of appx $390k that I agreed to carry as a second mortgage in order to complete the sale. LTV promised the two loans in total would be refinanced within one year and the terms were set accordingly with a balloon payment due in full on both the first and my second note. However, LTV failed to perform within the one year time frame so a six month extension was granted in writing from myself and the first mortgage which LTV serviced.
Unfortunately, after six month extension which expired Feb 2018, LTV again failed to perform. Other prospective lenders were also asked for a loan during the extension period, however, they replied in writing they cannot loan on an owner occupied sfr. Further investigation of LTV website notes they clearly only loan on NO OWNER OCCUPIED SFR.. This is contradictory to what they provided my tenant as LTV clearly knew the tenant/borrower was my tenant and lived in the home.
The tenant either lied on the application to LTV or LTV lied to their hard money investor as to the buyers residency. Shortly after the Feb 2018 extension deadline, the tenant/buyer stopped making payments on my loan yet has been allowed to continue making payments of $7250 per month on the first loan and the loan has not been called as of 10/21. I have asked multiple times for LTV to perform as agreed and finally Oct 8 2021 they agreed in writing they will pursue refinancing the two loans. However, they have since refused to follow through with a refinance of both loans and now their attorney is threatening me and demanding I basically “go away”.
LTV SaaS Fund Reviews
LTV Fund/Tyler Crawford agreed to give my Hawaii tenant a loan to purchase my home in 2016. The loan was for $725k and there was a balance of appx $390k that I agreed to carry as a second mortgage in order to complete the sale. LTV promised the two loans in total would be refinanced within one year and the terms were set accordingly with a balloon payment due in full on both the first and my second note. However, LTV failed to perform within the one year time frame so a six month extension was granted in writing from myself and the first mortgage which LTV serviced.
Unfortunately, after six month extension which expired Feb 2018, LTV again failed to perform. Other prospective lenders were also asked for a loan during the extension period, however, they replied in writing they cannot loan on an owner occupied sfr. Further investigation of LTV website notes they clearly only loan on NO OWNER OCCUPIED SFR.. This is contradictory to what they provided my tenant as LTV clearly knew the tenant/borrower was my tenant and lived in the home.
The tenant either lied on the application to LTV or LTV lied to their hard money investor as to the buyers residency. Shortly after the Feb 2018 extension deadline, the tenant/buyer stopped making payments on my loan yet has been allowed to continue making payments of $7250 per month on the first loan and the loan has not been called as of 10/21. I have asked multiple times for LTV to perform as agreed and finally Oct 8 2021 they agreed in writing they will pursue refinancing the two loans. However, they have since refused to follow through with a refinance of both loans and now their attorney is threatening me and demanding I basically “go away”.