Free No Obligation Quote.
I will answer all your questions and give you a FREE quote of purchasing your private mortgage note.
Receive cash in about 3 to 6 weeks for your private mortgage note.
First I need to know exactly why you are selling your private mortgage note to best help you. What is your major concerns about selling your private mortgage note? What is your motivation to sell your private mortgage note? Would you like to sell all of your note (full purchase) or some of the payments (partial purchase)? These questions are important.
I have been in business for many years now so I know that word of mouth is the best advertisement. I focus on making you happy because if I do that you will refer me to somebody else who needs to sell their mortgage note.
Time value of money.
Which would you rather have: The $50 in my left hand or the $100 in my right? The $100 of course. What if you had to wait 7 years for the $100, but you could have the $50 now, which would you rather have? The $50, of course! If you continue to hold on to your mortgage note it will be like receiving $100 in 7 years, instead of receiving $50 now.
Here's some reasons why people sell their mortgage note.
They never wanted the note in the first place,there afraid the purchaser will stop making payments, tired of waiting for their money, and they worry about the property taxes and insurance premiums not being paid each year.
Could you use CASH for
Down payment of a new house
Buy new a car
Credit cards debt
To buy something you need or want
What could you use a lump sum of CASH for?
There are 5 main areas that I look at when pricing a note.
1. Equity in the property.
2. Credit score of the payor.
3. Payment history or late payment.
4. Number of payments that have been made, or "seasoning"
5. Type of note. (Owner occupied single family residence, Owner occupied condo & multi-units, non owner occupied single family residence, non owner occupied condo & multi units).
You could receive a full purchase for your mortgage note.
You could receive a partial purchase for your mortgage note.
This Is the Information I Need To Purchase Your Private Mortgage Note. (Must be Accurate)
Type of Property:
Date of Sale:
Established by- Sale/Other:
1st Loan Amount:$
Monthly Payment: $
2nd Loan Amount:$
Down pmt Amount:$
Date of 1st payment:
Type:Amort, Interest Only,Other
Number of Payments Made:
Are the payments on time?:
What day of the month are do?:
Balloon Payment (if any):$
Balloon due date:
Are there any clauses?:
Whats your Motivation?
When do you Need To Close?
Have you received other offers?
What does the Payer do for a living?
Payer's credit score?
Is there anything else I should know about this note?:
This is how the process of selling your private mortgage note works.
After you give me your property information, note information and sellers information (above information) I will Grade & Price your mortgage. To grade & price your mortgage note it usually takes a couple of days.
If we agree upon a price for your Mortgage Note I will send you a Commitment Letter and ask for a copy of:
Copy of Note
Copy of mortgage, Trust Deed
Payment history-payment book or bank deposit
Escrow instructions from real estate sale in which the contract was created
Escrow closing statement from real estate sale in which the contract was created
Title insurance policy that insures the contract
Fire insurance information on the property which secures the contract (insurance company, policy number, agents name and address)
Loan payment record
Credit report and score of payer
Copy of a currant appraisal of security real estate
Please provide 2 pictures of subject property
Copy of street or city map showing property location
Plans, surveys or other documents in your possession
Then I will do title work on the property. After that is complete, we will purchase your private mortgage note through an escrow account.
26535 Taylor rd
Barrington IL 60010