Thinking About Selling a Mortgage Note?

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December

25

Selling a mortgage note is far more common than you might think, and this is especially true in the current economic climate. Many sellers have found themselves in the position of carrying a seller-financed note in order to help the buyer get the financing necessary to close the deal and sell a property. The result is that more and more people have such notes and are looking into ways to sell their note for cash. If you are thinking about selling a mortgage note, you will find that the process is relatively fast, easy and straightforward.

There are several different companies that you can go to today in order to sell your note and get the cash you want. The process starts when you shop around and get quotes. Most companies will have an online submission form that offers you a fast way to get a quote back. You will likely need to have a copy of the actual promissory note out in front of you, as you will need information like the interest rate, loan terms and so forth in order to get a quote. Then you simply wait for the quote to come back. Keep in mind, however, that the quote you will receive will not be at full face value. No company will offer you face value, and the only way you will recoup the full face value is to ride out the loan and service it throughout the entire loan term.

When you decide to pursue selling a mortgage note and accept a quote to purchase, your next step will be to fill out some more paperwork and then execute the transfer or sale documents. After this process is complete, your funds will either be mailed to you in the form of a check or wired directly into your account. The process is really pretty fast and straightforward.

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