If you’re in Texas, when it comes to selling a mortgage note, there are two things to keep in mind: Its current value and its future value.
If you are considering selling a mortgage note in Texas, the first thing you need to do is determine its current value or market value (that is: the value it will can be sold for “in the market”).
This is a pretty simple process really. All you need to do is contact a few professional companies that deal regularly with such investments as unsecured promissory notes, private mortgages, and real estate notes like American Funding Group.
Speak with a few investment counselors about what the current and potential future value of your unsecured promissory note is and what factors could affect its value – such as whether the interest rate is likely to go up, go down, or stay the same.
Calculating the value of your note
When you contact a local Texas investment professional, there are a number of things that will be considered about your unsecured promissory note.
One of the first things they’ll consider is the type of debt it is.
For example, unsecured debt can include things such as credit cards, student loans, medical bills, rent expenses, and any other unsecured type of debt that isn’t backed by assets like real estate or other property.
But if you want to sell a Texas mortgage note, there are real estate assets which “secure” the note, with less risk for the note holder than with an unsecured note.
Selling a private mortgage note in Texas
Before you sell your real estate note to just anyone, it’s a good idea to check with a number of different potential Texas note buyers. Not all note buyers or investors will price a mortgage note in the same way. Some will pay you a higher percentage of unpaid balance for your mortgage note in Texas than others.
If you have more than one Texas mortgage note to sell, you may even be able to put multiple real estate notes together to get the best possible deal. See if the company you are dealing with will pay you a higher rate for a a pool of mortgage notes.
It’s worthwhile to pay close attention to the terms given to you by the buyer of your mortgage note. Before you sign on the dotted line, make sure you understand all of your obligations and exactly what you get in return for selling your mortgage note. Here at American Funding Group we have a policy of full transparency and are glad to walk you through every aspect of the process, or method of deciding the current value of the note, and to answer any questions you have.
If you’d like to get a free offer on your note, contact American Funding Group today at (772) 232-2383.
Selling a mortgage note in Texas has never been easier!