How Do I Sell My Mortgage Note Worry-Free?
Are you concerned about getting a fair price for your note?Do you fear losing control of the selling process?
Are you intimidated by the legal and financial complexities involved?
We Can Help!
Maybe your life goals have changed and saving to meet those goals would take longer than desired. In such cases, selling an asset, such as a mortgage note becomes a viable alternative.
Likewise, when investment opportunities present themselves, they require a relatively large amount of capital upfront. Whatever the reason may be, selling a mortgage note can provide you with the quick cash you need.
Collecting payments each month, dealing with unreliable borrowers, and keeping up with taxes and insurance payments takes time and energy. Many people reach the point where the desire to free up time and reduce stress outweighs the benefits of holding on to a mortgage note.
Whether you’re selling to get a quick lump sum of cash or you’re simply tired of dealing with a non-paying borrower, we can help. We buy residential mortgage notes – both perform and non-performing throughout the USA.
Watch the Video Below to Learn About Our 3 Step Selling Process
FAQs
Our team has helped many people sell their mortgage notes quickly and securely. We’ve included some frequently asked questions to help you get started.
Why Should I Sell My Mortgage Note?
The two primary reasons for selling a mortgage note are the need for immediate cash on hand and the desire to eliminate the responsibility that comes with owning the note. The reasons for needing a lump sum of cash are vast and diverse. Emergencies may crop up that require more money than you have available.
How Does The Process Work?
Selling a mortgage note can be completed as long as the borrower is notified during the application process. You, the seller, are legally required to notify the borrower of the change. A mortgage note is generally sold to a purchaser when the seller needs a lump sum of cash immediately and as opposed to receiving monthly payments. In this case, you, the current owner of the mortgage note would sell the note, relinquishing your claim to the obligations of the borrower. The only difference to the borrower is where and to whom he or she sends their payments.
What Are My Selling Options?
Generally, we offer a few options. One way is to offer a full purchase of your note. Another method we use is called a partial purchase in which we only buy a portion of the remaining payments. You can receive a lump sum of cash upfront while retaining a partial ownership interest in the note. The chosen method depends on the specifics of the note and the deal.
Can You Buy My Mortgage Note Today?
For our company to buy your mortgage note, we will need to know certain information: Is the note being paid on time? How many payments are remaining on the note? How much are the monthly payments? We’ll let you know what specific information will be needed to proceed with the note purchase.
What Is the Current Market Value of My Mortgage Note?
The current market value of a mortgage note depends on various factors, including the interest rate, the creditworthiness of the borrower, and the remaining balance of the loan.
How Long Will It Take to Sell My Mortgage Note?
The time it takes to sell a mortgage note can vary depending on the complexity of the transaction.
What Are the Tax Implications of Selling My Mortgage Note?
The tax implications of selling a mortgage note depend on various factors, including the terms of the note sale and your current tax status. We recommend you consult with a tax professional to understand the tax implications of selling a mortgage note.
Will Selling My Mortgage Note Affect My Credit Score?
Selling a mortgage note typically does not affect your credit score, as the transaction is not reported to credit bureaus.
Can I Sell a Delinquent Mortgage Note?
It’s possible to sell a delinquent mortgage note, but the sales price may be lower than for a performing note.
What Documents Do I need to Provide When Selling My Mortgage Note?
The specific documents required when selling a mortgage note can vary depending on the buyer and the terms of the transaction. Some potential documents may include the original note, the mortgage or deed of trust, payment history, and proof of borrower insurance.
Get Your No Obligation Quote
When you’re ready to sell your note, you may contact us via telephone or by completing our online form below, to receive a no obligation offer.
Our offers are made based on the current market, an appraisal of the property, the terms of the note and competitive rates.
If you are ready to sell your mortgage note now, please fill out the form below to get started. We’ll contact you within 1-2 business days (Monday – Friday) to complete the process.
Yes, we know there are quite a few questions listed on the form. It’s easier to gather all the necessary documentation needed before trying to complete our quote form.
By accurately and completely filling out the fields below, it makes the process of selling your note much faster. We go through a verification process of the information you provide in order to make the transaction go as smooth as possible.
In addition, we value your privacy and will not disclose any of your personal financial information to outside sources without your permission. If you have any questions, please feel free contact us.
