Interested in Selling a Florida Mortgage note and running into difficulties? Read on and see how we handle problems.
When buying any Florida mortgage note, the first thing we investigate is the financial performance of the borrowers (how he/she is performing not only on your note but also on their other financial obligations). We also look at the property, which is the collateral for the loan, the equity position of the payers and the terms of the loan.
When we buy a Florida mortgage note, we are very interested in the ability of the payers to make payments as agreed. This is a risk-reward business. The better the financial performance of the payers, the more money we can pay. The worst the financial performance… the less money we can pay.
In a case where the borrowers have really rough credit, we would look at buying a portion of the mortgage note with an option to buy more of the mortgage once we have experience with the borrower’s financial performance.
When selling a Florida mortgage note, you may ask what are the most desirable mortgages?
The property being used for the loan is very important. The most desirable loan, from investors point of view, is on the home which the borrower lives in. Because…even if someone has good credit, he can have future financial difficulties (health, divorce, loss of job) and find himself in a situation where he doesn’t have enough income to pay monthly bills. And, generally the house payment is the last payment he will forgo.
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.
Property value is extremely important when selling a Florida mortgage note. What if there is more owed on the loan then than the property is worth? In many cases we will look to buy a portion of the note… keeping us in a strong equity position in the case of a payer default.
Next, we look at the loan terms. Maybe you are looking at selling a Florida mortgage note which has a balloon payment in one or two years. In this case we’d evaluate the borrower’s ability to make the balloon payment on time. If we determine that the borrower has no plans to make the balloon payment, we will look at rewriting the loan, extending the current payment and removing the balloon payment.
In summary, we are problem solvers. We buy many notes which other note buyers can’t buy… by developing creative solutions to overcoming problems. We would love the opportunity to buy your note.
Check out what other note holders have had to say about dealing with us by clicking here. And you can also checkout our company philosophy and guarantee to you… here.
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 Florida mortgage note now… we want to completely understand your mortgage note transaction to make you a reliable highest and best offer. To start the conversation you may fill out the form on this page or call us at 772-232-2383.
Some Top Florida Markets:
Alafaya | Bartow | Boca Raton | Bradenton | Brandon | Bonita Springs | Brooksville|
| Cape Coral | Clearwater |Crystal River | Dade City | Daytona Beach | Davie |
Defuniak Springs | Deerfield Beach |Deland | Deltona | Fort Lauderdale
| Fort Pierce | Fort Myers | Fort Walton Beach | Gainesville | Haines City |
Hialeah | Hollywood | Homosassa | Homestead | Hudson | Jacksonville | Jensen Beach |
Key Largo | Kendall | Kissimmee | Lake City | Lakeland | Lehigh Acres | Leesburg | Live Oak | Marathon | Melbourne | Miami | Miami Gardens | Milton | Miramar | Naples | New Port Richey | North Fort Myers | Ocala | Okeechobee | Orlando | Palm Bay | Palm Coast | Panama City | Pembroke Pines | Pensacola | Polk City | Pompano Beach | Port Charlotte | Port Orange | Port Richey | Port St Lucie | Riverview | Sarasota | St Augustine | St Petersburg | Spring Hill | Stuart | Sunrise | Tallahassee| Tampa | The Villages | Town ‘N’ Country | Vero Beach | West Palm Beach | Westport | 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|