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In the private sector, mortgage notes, land contracts, and deeds of trust are the promissory notes that buyers of real estate give to the sellers of real estate in exchange for the ownership of the real property. The holder of the note (the "payee") can sell the entire stream of income or cash flow from the note to a funding source. When multiple notes are held, it is called a portfolio.
Capital Funding of America can assist the holder of a private mortgage portfolio by providing a lump sump of cash for the entire outstanding balance of the portfolio. Unlike the Primary Market, portfolios in the Secondary Market can be sold even if the mortgagees have less than perfect credit. Even if you, the seller of the note portfolio, is currently experiencing credit problems, the value of you portfolio is predicated upon the credit of the payors.
Keep in mind that the creditworthiness of the individual borrower (the purchaser and "payor") will have some effect on the sale price of an individual note--as does the market value of the real property.
When submitting a portfolio to us for bidding, please provide the follow information in ExcelŽ spreadsheet format:
Name and address of the purchaser/borrowers and borrowers' social security numbers.
Account number assigned to the note.
Credit score of the purchaser.
City and State where located.
Interest rate of the note.
Purchase price of the home.
The amount of the down payment.
Original amount of the note.
Amount of each periodic payment.
Remaining principal balance of the note.
Frequency of payment (monthly, semimonthly, biweekly, or weekly).
Original number of payments.
Number of payments made to date.
Number of payments remaining.
Date of the first payment made.
Date of the last payment made.
If there is a balloon payment.
Date of the balloon payments.
Whether the account is current or has it been sent out for collection.
For more information about the sale of private mortgage note portfolios, please call Capital Funding of America at 1-800-322-5985 or use this link to our CONTACT US page.
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