Is there a difference between the definition of a private mortgage note and a seller financed note? Better yet, does it even matter? A recent subscriber's questions are answered. "I am getting confused with - what is a private mortgage note and a seller finance note. They both seem the same. A private mortgage note is a note that someone is holding on what was sold. A … [Read more...] about Can You Please Define Private Mortgage Notes?
What is a Real Estate Contract?
Sellers providing owner financing might elect to use a Real Estate Contract, Contract for Deed, or Land Contract to document the transaction rather than a Note and Mortgage or Note and Deed of Trust. There are both advantages and disadvantages to carefully consider when choosing a Contract. The big difference with a Real Estate Contract is that the buyer will not receive the … [Read more...] about What is a Real Estate Contract?