LX  Investor Network                                             201-822-1884
Mortgage Investments
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The process

New investments
When an investment is approved a notification is sent out to the network. If you express interest we will send you an information package for review and decision. Note that investment decisions need to be made quickly, but also know that there is no pressure. Please commit only after all your questions are answered. Even if you miss out because meanwhile the project is funded, there will always be others.

Pre-closing

You will receive closing documents for review from "our" attorney, who represents ALL investors, including you. You can contact him/her directly, before the close and after. Feel free to have the documentation reviewed by anybody else. We can send you sample documentation if you want to do this ahead of time. Next is the request to wire funds into the attorney trust account. Note that LX Financial does not handle investor funds (payment processing excepted). When the property is sold or refinanced the payout is wired directly back into your account.

Post-closing 
You will receive soft copies of the executed closing documents, followed by the recorded documents when received back from the county offices. We handle the loan servicing and management - including hazard insurance coverage


Reports and payments
You will receive regular updates about the progress of rehab, resale, leasing, expected payout date, etc. Payments will be deposited directly into your bank account. In many cases borrowers are not required to make payments for a certain period, and an investment may complete (pay out) without payments ever made.

Payout
In preparation for the resale or refinance you will receive a payout statement for review. When you receive your funds you will be asked to submit a notarized discharge of mortgage. That then concludes the investment. 

Next investments
Investors who are paid out receive early notification of new investments available, so that funds can be quickly re-invested if desired.