Archive for the ‘Sell Mortgage Note’ Category

Sell Your Mortgage Note or Promissory Note for Cash – Free Service

Posted on August 25th, 2010 in Sell Mortgage Note, Sell Promissory Note | 2 Comments »

To sell a promissory note or mortgage note, it’s no longer necessary to find a local buyer.

In the past, if there wasn’t a promissory or mortgage note investor or buyer in their area, sellers were left holding paper for years, instead of the lump sum of cash they really wanted for their residential or commercial real estate.

These days, with the right help, it can be much easier to sell a promissory note that is secured by residential or commercial real estate. Often in just a few short weeks.

Today, thanks to FindPromissoryNoteBuyers.com (FPNB) the struggle for mortgage note holders to find ready, willing, and able note buyers is over.

FPNB specializes in helping people from across the U.S. sell 1st and 2nd position real estate promissory notes. We work with a network of mortgage and promissory note buyers who are standing by to make a cash-out offer on your seller financed note.

FPNB has this to say about helping you sell your seller financed note:

“Getting top dollar for your note can be quick and easy. We are standing by, ready to offer you cash for your note!

If your note is saleable, we can find a qualified buyer for your real estate note in record time, at no cost to you.”

To get started, click the link about that says Request Quote, now. Then fill out the form and hit the “Send Email” button. You will receive a rapid response from FPNB letting you know the next steps to quickly selling your note and getting the cash that you need and want now.

If You Do Not Own the Promissory Note You Cannot Sell It

Posted on July 31st, 2010 in Is My Promissory Note Salable?, Sell Mortgage Note | 3 Comments »

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.

A Promissory Note By Any Other Name

Posted on March 26th, 2010 in Promissory Notes, Sell Mortgage Note | 1 Comment »

There are many names for a mortgage note or promissory note so, for the sake of clarity, this is a list of terms that all describe the same thing: a promise to pay or I.O.U. between a seller and a buyer.

cash flows
debt instruments
discounted notes
discounted paper
discounted mortgages
discounted cash flows
discounted trust deeds
mortgage notes
notes
owner financing
paper
private financing
private mortgages
private notes
private trust deeds
promissory notes
real estate notes
receivables
seller carrybacks
seller financing
seller-held mortgages
seller trust deeds

You can find all sorts of “note deals” that take place every day. Ranging from home owners who carried back paper, to lottery winners who want a lump sum for their monthly checks, tax liens, yachts, air planes, and legal settlements.

There are many reasons why people choose to sell their real estate cash flow notes, including knowing that the economy is turbulent (to say the least!) and there is no guarantee that the person they sold their property to will be able to continue to pay. So it can be very comforting to take a lump sum of cash today, to do with as they please, right now.

Use the Contact form on this page to get in touch with us about selling your real estate secured promissory note.