Who Will Buy Mortgage Note Paper?

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August

14

You spent a long time trying to find a buyer for your residential or commercial property. You likely were patient while your potential buyer went from bank to bank in search of financing. With many buyers running into difficulty getting the financing they need in light of the current economic downturn,  you then found yourself in the position to finance the buyer’s note yourself. This in turn led to negotiations with regards to financing terms. Finally, you walked away from the closing table with your property sold. While this certainly was a relief to you, you are now in the position to act as a loan servicing agent, collecting monthly payments on your seller financed note, when what you really wanted was to walk away from the closing table with a lump sum of cash in your hand. The good news is that you still can get that lump sum of cash you want or need when you find someone who will buy mortgage note paper.

There are companies,  known as note buyers, who will make you a cash offer on the loan you are holding. Note buyers will buy mortgage note paper after considering several factors, which include the value of the property, the credit of the debtor, and the interest rate and the term of the loan. Your offer will not be at 100% face value of the loan, but will be a reasonable offer based on all applicable factors of the loan. So the fact is that you will lose a small amount of cash over the long run, but if you need the cash now, selling your note is often the best way to go. The other option, of course, is to continue servicing the loan and collecting small monthly payments on the note for the life of the loan.

Looking for Someone To Buy Mortgage Note? Click Here!

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