Is a Mortgage Note Buyer a Good Idea?
If you are trying to sell your home, then you may have come across a
mortgage note buyer. This is a much different type of company than a
traditional bank, although they both handle property loans or mortgages.
A company that offers note buying services can be very important to you
if you are trying to sell your property quickly.
Another option that you have is to finance the buyer yourself. By holding on to the lien, you then become the banker and collect a monthly payment just like a bank would. You can then choose to retain the lien and collect monthly payments or you can sell it to a mortgage note buyer. This can be done at any time after the sale of the property.
The advantage of using a mortgage note buyer is that you wonít have to wait thirty years to collect your money. Although cash flow is great, you may need capital to make your next purchase. A company that buys the note will pay you a lump sum, which will allow you to get your equity out of your property and take you out of the mortgage-making business. For many real estate owners, doing business like this is the quickest and easiest way to move a piece of property, and will continue to be so until the credit markets loosen up.
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ABOUT THE AUTHOR
Carla Kaplan is a writer and researcher on mortgage note. Save time and money by getting FREE in-depth information and helpful tips here: SellMyMortgageNote.net