Looking to sell a mortgage note in this pandemic?
Well it’s still possible to sell a mortgage note in this pandemic but the landscape has changed. First of all many investors are not buying in certain highly infected coronavirus states like New York, New Jersey, California and Michigan.
But those markets will open up as the virus threat diminishes. Check with us at 772-232-2383 for latest updates when you want to sell a mortgage note.
The good news is that there are still investors interested in buying good quality notes. As an aside, you may be interested in Forbes’ predictions on real estate once the pandemic subsides.
And, as in the past, all note purchase will be underwritten looking at the credit worthiness of the borrower, the equity position in the property, the borrower’s payment history and the terms of the note.
If you want to sell a mortgage note in this pandemic and your borrower has lost his job, now may be a difficult time to sell your mortgage note. But you may be able to modify the note in a way that the borrower can afford the new payment.
Clearly, investors are being more cautious due to the economic impact of this pandemic. Investors may be willing only to buy a portion of the real estate note that you hold. So if you can get by with selling only a part of the note, this may be the way to go.
At American Funding Group, we have over 30 years experience of buying real estate notes in both the good and the hard times. Check with us at any time to get a fast and fair offer when you want to sell a mortgage note.
if your real estate note can be purchased, we will find a way that works for you.
So call us at 772-232-2383 or fill out the form on this page, www.buymortgage.com.
In any event you can be sure that we will help you in any way that we can. Check out what other noteholders have had to say about us.
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