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Residential Mortgage Notes, which are formed when Mortgage Loans, Land Contracts or Deeds of Trust are created, are promissory notes whereby the purchaser of real estate (the "borrower" or "mortgagor") pledges to the seller (the "lender" or "mortgagee") that in exchange for the ownership and title to the real estate, and in lieu of cash, that the purchaser shall pay to the seller the balance of the purchase price over a prescribed period of time.
As the holder of the note, the seller can market a portion or all of the stream of income or cash flow of the note to a funding source. The creditworthiness of the purchaser is the basis for the sale of the note as well as the value of the real property. The creation of a private mortgage note is usually the result of the purchaser of the real estate not being able to secure or qualify for a conventional real estate loan, or the seller/mortgagee prefers to receive supplemental income from the interest charged.
We can assist the seller of the property by providing a lump sump of cash for either the entire outstanding loan balance or any portion of a series of mortgage payments from a private mortgage note.
By contacting us at the very beginning of a transaction, we can advise the parties how to structure the private mortgage from the onset of the transaction so that Capital Funding can purchase the mortgage and the seller can immediately cash-out of the sale. This can be done even if the seller has a outstanding mortgage balance on the property being sold. If there have been payments already made on the note, we can provide funding for the balance of the outstanding payments.
For us to provide a bid for the purchase of your note, we will need the following information:
The Sales Price of the Home.
The Date of the Sale.
Down Payment.
Interest Rate.
The Term of Note.
The Amortization Schedule of the Note.
How Many Payments Have Been Made.
When the First Payment Was Made.
When the Next Payment Is Due.
The Credit Score of the Purchaser.
The Amount of the Periodic Payments.
If the Note Has a Balloon Payment. When Due and How Much.
Location of the Property.
Call us at 1-800-322-5985 for more information on how to sell your Residential Mortgage Note, or use this link to our CONTACT US page.
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