Q. How much can I expect to get for my Note?

A. This is usually the first and most asked question we get. When looking to purchase a Mortgage Note, we look at three things; First the Property, then the Person, then the Paper itself, in that order. Pricing is mainly determined by five criteria:

1.  Current Value of the Property.
2. The Potential "Upside" of the Investment, based on Future Payments
3. Payer's Credit
4. Seasoning
5. Terms of the Note (interest rate, payments, etc.)

Seasoning: Seasoning is the number of monthly payments a payer has made in accordance with terms. The longer the seasoning, the lower the risk because the borrower has established a solid record for paying on time.

Q. Do I need to have all my documents available to Sell my Note?

A. The short Answer is, No. But we are going to need as much pertinent information about your Mortgage Note that you have or can obtain, for the purpose of Due Diligence. So here's how it normally works.

• You fill out our Short Form, on the next page, and one of our Team Members will call you back within the next 48 hours or less (we strive for same day or next day calls). 
• This is just a short, initial call to make sure your Mortgage Note (or Notes) meet our criteria, and to make sure we understand your Motivation for selling.
• At the end of that call, we get your Best email, so we can send you what we call the "Intake Form". This is where the documents we are talking about come into play.
  Don't worry though, we can work with you to get all the information we need for our Due Diligence. That is what we do.
• Once we get the information we need, a member of our Due Diligence Team will be in touch with you to verify the information and give you 'Next Steps'. This is usually within 1-2 Business Days from when we receive the Intake Form back from you.
  
• So actually yes, the more information you can provide for us on the Note, the quicker and better we will be able to guide you through the Selling Process.
  

Q. What is the usual Timeline to complete this process?

A. Most closings take anywhere from 14 days to 28 days to complete; 14 days on the fast side, and about 28 days being the average. Sometimes it may take a little longer, depending on the original documentation you can provide.

- About the original documentation: If you want to sell your Mortgage Note but are concerned about whether you have all the documents we need, please still fill out the short form and we can have a conversation with you. Lack of documentation DOES NOT mean that we cannot work with you. It just might a little longer to complete the Due Diligence process, because we will have to obtain those documents on our own.

Q. What about Partial Payments?

A. Now this is where it gets exciting!  A lot of people who carry paper have never even heard of Partial Payments, or a Partial Note Purchase, but this can be a very lucrative option. This is an option where maybe we don't buy the whole Note from you. We can just buy a Portion of your Note.

Example: We could just buy the next 6 to 12 months of the monthly payments on the Mortgage Note, just to help the Note Holder (you) out for a period of time.

You see, many Note holders are Very Happy with the Mortgage Notes they own, and they Do Not want to sell them. But maybe they are in a situation where they DO need a Cash Infusion, for whatever reason. This is where Partial Payments can be helpful. Be sure to ask if Partial Payments might be right for your situation.

- One last thing; we have a riddle for you:

Q. What do you call a Note Holder, in an Economic Downturn?

A. A landlord.

- The reason we included this in our FAQs is simple: In an economy that is uncertain, people that were once easily able to make their mortgage payment, can no longer do so. Then, as the Note Holder, you have to decide what you are going to do with the Note. That Note has turned from an asset, to perhaps a liability. 

If the reason you are considering selling your Mortgage Note (or Notes) is because the Borrower has stopped paying and you just want to avoid dealing with a potential Foreclosure situation, let us know. Fill out the short form on our Contact Us page, and help is on the way!