Archives for November 2010

Selling Mortgage Notes – Where Have All The Simos Gone?

This month’s owner financing real deal comes from our email inbox. Chances are this simultaneous closing question has been on your mind too. Question: I'm a rehabber in Florida and would like to have a company … [Read more...]

Why Sell My Mortgage Note?

Owner financing seemed like a good idea at the time. Let the buyer make payments and get the property sold. After all the seller carry back is known for attracting purchasers and providing quick closings, without the hassles or fees of a conventional bank loan. But circumstances change and many sellers would prefer a lump sum of cash today rather than monthly payments that trickle in over the next 10, 20, or 30 years. If you are receiving payments on a mortgage, trust deed, or contract … [Read more...]

Note Buyers Demand Original Promissory Note

In an effort to hang on to homes in foreclosure many owners are telling banks to, “Show Me the Note!” It looks like Wall Street lenders are learning something private note buyers have known for years… When buying and selling mortgages or trust deeds you need to get the original promissory note! Put it in a safe place where it won’t get lost and make sure it comes with endorsements and assignments that follow the chain of ownership. You know, something that proves you own what you say you … [Read more...]

Note Buyers – Linked In or Whacked Out?

LinkedIn has been called the Facebook for businesspeople. I have a profile there, but I rarely check it, and requests to make a connection (similar to ‘friending’ someone on Facebook) from people I know may sit for months before I notice them. Nonetheless, I occasionally browse my ‘groups’ to see if anything of interest is happening and if people are really putting deals together online. What I’ve found is a tiny bit of e-commerce and a mega-dose of megalomania. There are a few people who … [Read more...]