Sell Mortgage Note process
Sell Mortgage Note process
Sell Mortgage Note process
How to Sell Mortgage Note.
The process of selling your mortgage is not a very hard process it does take some time, effort, and patience.
If you take the time to sell your mortgage you could receive a lump sum of cash in about 3 to 6 weeks after you submit
your note and property information. The process of selling your note consists of finding an investor, submitting your note
and property information, getting a quote, agreeing on a price, commitment letter, information form, due diligence,
and escrow account to receive a lump sum of cash or partial purchase for your mortgage note.
How to find an investor is not hard, you can go to google and type in sell mortgage note or private mortgage buyers or
mortgage buyers just to name a few phrases. Find an investor you like and trust and follow through the process of getting
cash for your mortgage note. For more information go to goarticles.com and read through the real estate catagory.
The next step is to give the investor your property and note information. Your property info consists of type of property,
sales price, property value, loan amount, down payment. Your note info consists of the balance, interest rate,
payment amount, number of payments made, length of payments and such. You can go to my website link is at the bottom
of the page to get the full list of info needed to sell your mortgage.
Next you will receive a quote for your note if you agree on a price you will receive a commitment letter and information
request form. A commitment letter is an agreement for an investor to purchase your note. Information request form
is information needed to proceed in buying your mortgage like copy of the note, payment history, escrow instructions,
title insurance policy, credit report of payor.
Once an investor receives all of the info he or she will do their due diligence like making sure there is no liens on the
property and that the title is good. If all is well the exchange of cash for your mortgage note will go through an escrow
account of your choosing. For more information and answers to your question please visit my website at http://www.accuratenotes.com
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