Who Is Looking for Mortgage Notes for Sale?

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December

22

Some people set out with the goal of trying to hold onto owner-financed notes. Having several such notes in hand can be quite an investment, giving you fairly stable monthly income as the payees make their payments each month. However, this is not a turnkey way to stable income because there is some risk involved in holding and servicing such notes, and this is especially true in today’s economy. A payee may not make a payment one month or even several months in a row, and this may require you to incur legal fees. If the payee does default, keep in mind that an owner-financed note is usually a second- or third-position note, which offers additional risk in the event of a default.

While some people want to hold these notes, others find themselves holding onto them without ever really intending to. If you fall into either of these scenarios, you may be wondering who is looking for mortgage notes for sale. There are several companies out there who will buy these notes from you. So whether you purposefully bought several notes and are now ready to get cash for them and move on, or you got into an owner-financed note just to try to sell your property, keep in mind that you do have some choices.

The first step to consider is to look for companies that buy mortgage notes for sale. Make a list of such companies, and then shop around to get quotes from each of these companies. You will not receive face value on the note from any company, so you will want to shop around to get the best deal as you sell your note. Most companies today have an online form that you can complete to get a quote, which makes it easier and faster than ever to get a quote.

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