What is a Payer Estoppel?

Prior to purchasing a seller financed note, the investor might ask for a payer estoppel.  This simple one page letter or document is sent to the person making payments on the note, mortgage, deed of trust, or real estate contract. The estoppel explains the investor is contemplating the purchase of the note, reassuring the payer that all terms and conditions will remain the same.  It then summarizes the information on the note including current balance, interest rate, terms of repayment, and … [Read more...]

What is “Outside Servicing” For Owner Financing?

You may have heard the term “outside servicing” and not really thought of what it is or how it may be helpful when owner financing. … [Read more...]