How is Groundfloor doing with foreclosure rates being up?

[terrycook]

I was looking at Groundfloor as a potential investment, but curious how well their notes are performing this year. Is it a bad time to get into real estate notes?

 

[martinstraughter]

I only have a little invested in Groundfloor so it's just a small sample, but here's what mine looks like right now:


It's been pretty common since I've been with them to have a fairly large number of loans in default or extended. So far, all of mine have ended up being repaid, and usually they end up being repaid at a higher rate than expected because of it.
However, I don't think I've ever had quite this many not performing so I am a little concerned.

 

[perryjordan]

I've been investing with Groundfloor for a couple of years now. Honestly, I have no idea how well it's doing right now. I get a text every couple of days saying "Good news! An investment has been repaid and funds were depositing into your account."
I have the auto invest set up so that money just keeps getting reinvested in more notes.
From my understanding, most of the defaults end up getting paid back. The housing market is crazy right now so I expect that a lot of them will go into default and then get extended, but eventually get paid back.

 

[john]

uyhijo