First Equity Note, LLC specializes in purchasing owner financed mortgages and land contracts. Whether you reluctantly accepted a mortgage in order to sell your house, or you accepted a mortgage note for investment reasons, we can buy your mortgage note or land contract and give you cash today, relieving you of future worry.
Land Contract Buyer – dreamprotector.net. Recent legislation has greatly affected how investors do business, especially the use of land contracts.
Today a land contract buyer must be very careful or he or she could be in a lot of trouble. The main piece of legislation that affects this type of transaction is the Dodd Frank Bill. This bill, in the opinion of real estate investors, went too far in protecting the home buyer when a land contract is used for the owner of the property to sell his real estate on a land contract. Real estate investors are not big fans of this bill, as it puts too much of the burden on them to make sure that the buyer can afford the property and make future payments. How to Sell a Promissory Note - First Equity Note, LLC. To make a land contract marketable, the person buying the note will often require that it be converted to a Mortgage or Promissory note.
It is much easier selling a promissory note as opposed to a land contract. In converting the land contract, errors and other imperfections can be addressed and corrected. This makes the note easier to market. I see a lot of land contracts riddled with errors that without correction, the note would not be marketable. A recent case in point was a land contract that was signed, but not dated. In short, to correct these errors, it is going to take the cooperation of the payer. I would encourage anyone looking to sell his or her home on a land contract, to contact us and get some free advice as to the correct language and structure.
Note Broker – dreamprotector.net. You have come across a great investment opportunity or you want some extra cash to manage your debts.
Regardless the reasons, you must be aware that you can sell your private notes. However, you are not sure about how things work and whom to sell. Moreover, you also don’t know whether you will end up getting a good deal. With a Private Note Buyer like First Equity Note, you are now at a safe place. In fact, we will help you in every step, and make sure that you end up getting a good deal like never before. Sell My Real Estate Note. Over the last couple of years, one of the questions I get asked most often is, how do I sell my real estate note?
Because of the recent real estate bust, many home owners that had to sell their homes for one reason or the other, had to sell on a land contract or take back a mortgage note as banks were not giving loans in many cases. Because of the drastic drop in property values, the properties would not appraise for what the owners needed to sell their homes for, so taking back a real estate note was the best option at the time. Today banks have done an about face in their lending practices and have very stringent requirements and require larger down-payments.
Gone are the days when you could buy a new home with nothing down and in many cases pay interest only. A large segment of the US population is just getting back on their feet and because many were without jobs for so long and had trouble paying their bills on time, they got big dings on their credit. Selling a Promissory Note. Companies That Buy Mortgage Notes. Private Note Buyer. Business Note Buyers. Are you interested in double digit returns for your real estate?
Then it’s a good time how to sell your mortgage notes and get the best value of your money. In fact, First Equity Note is one of the leading Business Note Buyers and we have been operating in this business since a long time now. Promissory Note Buyers. The promissory note is a legal instrument that acts as a promise between the borrowers for repaying loans to a lender.
These notes often act in the same manner as the loan documents of the bank. However, the promissory notes allow anyone to become a lender of the money or the property. In the recent years, these notes have become increasingly popular and they are used as a vehicle for non-traditional lending. Moreover, the borrowers also do not require excellent credit for the same. Therefore, with these notes, you can always lend and borrow outside the normal channels. You have sold a property, but you do not get the amount in lump sum, but as installments. Mortgage Note Buyer. Often one will sell his home on a land contract or mortgage note with the full expectation that he is willing to take monthly payments over the entire term of the agreement.
However, life can be unpredictable, and things over time change. One’s health changes or an opportunity comes along where a larger sum of cash is required to take advantage of said situation. When one ponders the situation he or she suddenly realize that they have a mortgage note or land contract that they hold and if only they could tap the current value in a lump sum, they can pursue their dream, ambition or opportunity. In these situations the question that will often come to mind is, can I sell my mortgage note for cash. There is a ready market of buyers for these relatively marketable mortgage instruments, and the process can be easy if your work with the right company.