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Finance & Stock Groups Forum Index » Real Estate » Sell Mortgage Notes & Buy Mortgage Notes
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| Guest |
 Posted: Tue Oct 28, 2008 4:29 pm |
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The Mortgage Note Post provides a medium for people or companies to
sell their mortgage notes to investors
http://www.lenderlister.com/notes/
Why sell mortgage notes?
Liability, possible foreclosure, need the money now, free up money,
raise cash quickly.
How will selling my mortgage note affect the payee?
They just pay the new mortgage servicer, terms remain the same.
What are my expenses?
Title insurance is paid by purchaser in most states or counties,
recording fees, appraisal fees, and any pass due tax liens if any. All
of which are negotiable with the buyer of your note for closing.
Where will the closing be held?
At a Title company, or mailed from a Title company to your address.
How do I get paid?
A Title company will send a certified check or wire the money directly
to your bank account.
What are the determining factors which make up the value of a mortgage
note?
The term of the loan, (How many payments a buyer will receive)
The interest rate, (Everyone who buys notes loves a high interest
rate)
Lien Position of the mortgage note for sale. (A first position note /
Trust Deed has significantly more value & Less Risk)
Balloon Amounts - (Balloons on a mortgage note for sale create risk!)
Mortgage Clauses - On a mortgage note for sale can go both ways. Good
with due on sale clause. Not good with assumable mortgage clause. (Who
knows what credit risk the next guy brings?)
Value of Property - Single family homes are the most secure mortgage
note investments, apposed to investment property. The neighborhood
location is important also.
Loan to Value on a Mortgage Note for sale is very important - The
Lower the loan to value the better!
The Credit of the Payer - Mortgage payer history on the mortgage note
for sale can work both ways.
http://www.lenderlister.com/notes/ |
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