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Glossary

  

Selling A Note 

 

 

        There are personal reasons for preferring a lump sum of

        cash.  This page wil describe some of them and explain
        how 
t
o sell your note.

 

        Notes may vary from a private mortgage note for residential,
        commercial 
or industrial real estate, marine note,  

        business note,  aircraft note, mobile home note,
        equipmen
t note.

 

        There may be a single note or a portfolio of notes.

 

 

      Some reasons to sell may be:

 

  •       Current enjoyment
  •       To pay off debts
  •       To fund college costs
  •       Other investment opportunities
  •       Major purchases
  •       To pay taxes
  •       Simply tired of collecting payments
  •       Inflation: 
          In 1981, a first class United States postage stamp was
         15 cen
    ts. In 2003, it is 37 cents.

 

 

Other advantages of selling a note.

Today the value of your note(s) will depend on several factors:

 

 

  •       The collateral securing the note, if any.
  •       Number of remaining payments.
  •       Interest rate, if any.
  •       Credit worthiness of the party making payments to you.
  •       Enjoy convenience, liquidity, freedom and peace of
          mind. 
  •       Flexibility: 
          You may sell a specific number of paymen
    ts to meet
          cer
    tain financial need, or you may choose to sell the
          en
    tire note.

 

 How to Sell Your Private Mortgage Not
 Submi
t Electronic Worksheet for a preliminary
 evaluation.

      If Note Holder accepts preliminary evaluation, our
        funding 
sources  will also require the following
        documents to fund a private mortgage note.

  •       Copy of Signed Promissory Note
  •       Security Instrument - Copy of Recorded Trust Deed, 
          Mortgage or Land Contract.
  •       Copy of Title
  •       Copy of Sales Contract
  •       Payors' Credit Report
  •       Closing Statement
  •       Bill of Sale
  •       Copy of Insurance Policy Title Insurance, Hazard Insurance-              
          Prior Mortgage Information
  •       Verification of Payment History - Copies of Canceled
          Checks, Ledger, etc.
     
  •       Payors' social security numbers.
  •       Pictures of the property if available. 
  •       Recent appraisal of property if available.

         Documents may be faxed to 1-206-706-8926
         Note Seller pays or approves charges deducted at
         closing credit check, appraisals
, surveys or
         other costs.

        

        Other Notes

If you are considering selling a note other than the
private mortgage note, we will be happy to receive
your enquiry over the telephone at 206-706-8673 or
800-930-395.

 
        You may also submit your enquiry on the Contact Us page.

        The information you provide will be confidential. 

 

                        

 

 


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