Information
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Frequently asked questions
What Are The Benefits of Selling My Note?
Besides gaining a lump sum of cash, selling your mortgage can simplify your life. You will no longer have to be concerned with
- Collecting payments
- Risk of foreclosure or bankruptcy
- Property damage or destruction
- IRS Reporting requirements
- Death or divorce of the payor
- Abandonment of the property
- IRS tax liens or other liens against the payor
- Unpaid real estate taxes or insurance policies
What Is My Note Worth?
The value of a note is determined by various factors, such as the property type and location, the improvements; the payors creditworthiness, the structure of the note including down payment, terms, and interest; and much more.
Can I Sell A Portion Of My Note?
Yes. We can do a partial purchase. You can choose to sell only a few years of the payments to receive a specific amount desired or needed.
What Is Required For A Free Analysis Of My Note?
Some information that is easily obtained from the closing documents and the note.
What Are Some Common Reasons People Sell Their Notes?
Note holders sell notes to convert small monthly payments into a lump sum of cash for immediate use, for reasons such as
- Covering unexpected expenses, like medical bills
-Paying off high-interest debts
- Fund tuition, vacations, or the purchase of a new car
- Settle estates or divorces agreements
- Re-invest at a better rate of return
Some sell to simplify bookkeeping and reduce collection hassles, and eliminate concerns that come with holding a note.
How Long Will It Take To Receive Funds?
It will take a few weeks to collect all the documents and information needed, and after that is completed and all the necessary documents have been received, it usually takes only 10 working days to process and record the documentation and complete the sale.
Will Selling My Note Have An Effect On The Person Paying Me?
No. The only change will be to whom and where future payments are sent.
All terms and conditions set forth in the original note and mortgage remain the same. Just as banks sell mortgages, only the payment collector changes.