Have a Florida mortgage note for sale?
Here are some key factors to keep in mind when selling a mortgage note.
When a note buyer looks at buying a mortgage note, he has to assess risk. The more risk, the mortgage note buyer is asked to take, the less money the note buyer can pay.
So what are the risk factors for the note buyer when you decide to offer your Florida mortgage note for sale?
First, we try to assess if your payer will make his payments on time. We look at two things. We look at how your payer is performing on the note you want to sell. Next, we look at how he is performing with his other creditors… we look at the payer’s credit report. The better the credit report and performance on your note, the less risk to the note buyer and the the more we will pay..
The next set of factors are all related to the property. Remember, we are evaluating risk– reward… and the most desirable mortgage note is on a single family home in which the borrower lives. The least desirable real estate note is a mortgage note on raw land. If the borrower has a financial hardship, the house payment will be the last payment he won’t make since he doesn’t want to lose his house . But not making payments on a real estate note on land may affect his credit history but it will not greatly affect his life style… but losing his home will greatly affect his life style.
The next group of factors all relate to the terms of the mortgage note. Let’s look at two mortgage notes which are the same except for the interest rate. They both are $100,000 private mortgage notes. One note is written at 3.5% with a monthly payment of $449.03 and the other has an interest rate of 7% with a monthly payment of $665.30. We will pay more for mortgage note with the $655.30 payment. As a general rule we will pay more for a note with a higher interest rate.
When placing your Florida mortgage note for sale, be sure to evaluate all options. For a fair offer, fill out the brief form on this website. Or call us at 772-232-2383.
And while you are here, take a moment to see what others have said to say about dealing with us.
To go to our home page, click here.
Some Top Florida Markets: Bartow| Boca Raton| Bradenton| Bonita Springs Brooksville|Cape Coral | Clearwater |Crystal River |Dade City | Daytona Beach | Defuniak Springs | Deland| Deltona | Fort Lauderdale| Fort Pierce | Fort Myers | Fort Walton Beach |Gainesville |Haines City |Hialeah| Hollywood| Homosassa| Hudson|Jacksonville |
Jensen Beach| Key Largo | KIssimmee | Lake City | Lakeland |Lehigh Acres |Leesburg|Live Oak | Marathon | Melbourne| Miami |Miami Gardens| | Milton | Naples| New Port Richey | North Fort Myers |Ocala| Okeechobee | Orlando |Palm Bay | Palm Coast | Panama City |Pembroke Pines| Pensacola|Polk City | Port Charlotte | Port Orange | Port Richey |Port St Lucie| Sarasota | St Augustine | St Petersburg |Spring Hill | Stuart |Tallahassee|Tampa | Vero Beach |West Palm Beach| Winter Haven| Weeki Wachee |Zephyrhills |
Primary States in Which We Buy: |Alaska| Arkansas| Alabama | Arizona |California | Connecticut |Colorado| Georgia |Hawaii|Florida | Idaho| Iowa | Illinois |Indiana | Kansas |Kentucky |Louisiana| Maine | Maryland |Michigan | Minnesota | MIssissippi | Missouri| Montana| Nevada| New Hampshire | New Jersey | New Mexico | New York |North Carolina |North Dakota | Ohio |Oklahoma | Oregon| Pennsylvania| South Carolina |Tennessee| Texas | Utah| Virginia | Washington | Wisconsin |West Virginia | Wyoming|