Problems in Selling a Texas Mortgage note? Want some suggestions on how to handle those problems?
When buying any Texas Trust Deed, we always look at the financial performance of the payers (how he/she is performing not only on your note but also on their other financial obligations). We will investigate the property… securing the loan, the equity position of the borrowers and the terms of the loan.
When buying a Texas Mortgage note, we want to be comfortable that the borrowers will make their payments on time. If the payers are paying on time, we will pay more money for the mortgage than if the borrowers have consistently been late with their payments.
One of the problems in selling a Texas Mortgage Note may be that the payers have bad credit. In that case, we look at buying a portion of the mortgage with an option to buy more of the mortgage note once we have established a good payment record with the borrower.
When selling a Texas mortgage note, you may ask what are the most desirable mortgages?
What type of property is securing the mortgage note? The most desirable mortgage for an investor, is on a single family owner occupied house. Even if the borrower has good credit, if in the future he faces loss of a job, a divorce or a health problem, he may find himself in a situation where he doesn’t have enough money to pay all his bills. And, generally the house payment is the last payment he will let go.
The next most desirable mortgage is on an investor property with 1-4 residential units… After that we love commercial mortgages and mortgages on land. We also buy business notes.
Another one of the problems in selling a Texas Mortgage Note is that the property value has declined. If the current note balance is larger than the property value… We will look to buy a portion of the note… keeping us in a strong equity position in the case of a payer default.
The loan terms are a key factor in determining what a mortgage note is worth. Perhaps you are looking at selling a Texas mortgage note with a balloon payment coming due in a few short years. If we determine that the borrower has no plans to make the balloon payment or can’t make the balloon payment, we will look at modifying the loan by keeping the current payment and removing the balloon payment.
In summary, we love to overcome problems… and, we are good at it… allowing us to purchase notes which other note buyers can’t buy. We would appreciate an opportunity to buy your note.
If you have any questions or concerns, please call us at 772-232-2383 and we will help you in any way that we can.
If you are interested in selling a Texas mortgage note now… we want to completely understand your mortgage details to make you the highest and best offer. To start the conversation, you may fill out the below form or call us at 772-232-2383.
I'd like BEST PRICE for ALL or PART of My Note
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