Safekeeping the Original Note

Can you easily locate the original promissory note?  This important legal document should be kept in a safe place, and here is why!

The note is a promise to pay or IOU from the buyer, spelling out the amount and terms of repayment. In legal jargon it is known as a negotiable instrument.  Similar to a check, the original must be presented to collect or prove ownership.

If the seller desires to sell and assign the note payments to an investor, the investor will ask for the original note to be provided at closing. Read more

Increase Value with Payment Histories

Keeping an accurate record of the payments received on the note shows how much the buyer still owes along with their payment habits.  Plus, note sellers can also improve the value of their note by providing a verifiable payment history to the investor! Read more