I have been receiving inquiries from several people who want to sell their promissory note (also know as a mortgage note) for cash. Since that is what I help people do, I welcome all inquiries, but before you contact me, you need to make sure the note is yours to sell.

That sounds logical, but some folks have emailed me to sell a note they are making the payments on. The note turns out to be owned by another person or a bank, so they are not in a position to sell it. That would be like me going to a car dealership and trying to trade-in your car, to buy myself a new one. It cannot happen because your car is not mine to sell. The same thing holds true with a promissory note. If you are the Payor, the Assignee, Obligor, Debtor or Mortgagor, then you are not in a position to sell the note.

If you are the Payee, the Assignor, Obligee, Creditor, or Mortgagee then you are the owner of the promissory note or trust deed and do have the right to sell it.

What Do Members of My “Find Promissory Note Buyers Network” Want to Buy?

There are numerous types of promissory notes out there. This website is specifically offering a service to notes that are backed by real estate. We will only work with the owner/s of the notes and we look for at the bare minimum 3 months of seasoning or payment history, with 6 months being better and any longer being better still.

The most appealing note to my network members is on a single family residence (SFR), with a significant down payment and interest rate of 7% or higher. It is always worth it to request a quote even if your note does not meet these criteria, since there may be a buyer in my network for almost any promissory note you own that is secured by real estate.