Last week I had a hard money loan of around $550k on a $2 mil property in Santa Barbara. I sent in scan backs the next morning since it was 11:30p when I finally got home. We w¾
Yesterday, I was sitting at my computer getting ready to pay some bills before my trip to Sacramento on Monday. When I clicked on to sign on, the scan backs were still up on my screen. Suddenly on the Note I realized the PAY TO ADDRESS was not correct. It had an LA street address, but a Santa Barbara city after it.
I called the loan broker to let her know that the first page of the note needed to be corrected so that the borrower doesn't send her monthly payment to that address and the payment would kick back.
It was bizarre. That addressvjust jumped off the page at me. Weird I thought, can't be right.
Loan broker thanked me profusely. I guess that's what we get paid the big bucks for. Loan funds on Monday.
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