Questions when selling a mortgage note?
Selling a mortgage note? Have questions? A lot of people do. So, here’s a quick summary of some common questions we get from note holders… with our answers next to them. If you still have a question, don’t hesitate to shoot us an email through our contact page (or give us a call).
Q: Why should I even consider selling a mortgage note?
A couple reasons. First your investment is trapped inside of those future note payments. If you need cash to pay off debts, make a new investment, or any other reason… selling all or part of your future note payments may be a great option. Second, selling all or part of your future note payments doesn’t mean you’re losing any principal. In fact, there may be ways American Funding Group can structure the purchase of your note payments so you regain all or most of the principal owed you in the note. Ask us how and if your mortgage note qualifies ››
Q: Why should I consider American Funding Group when selling a mortgage note ?
Great question! We have been buying notes for over 30 years. Over time, we have faced and overcome many obstacles, both visible and hidden. Check out what some of our customers have had to say about us.
Additionally, we offer some of the highest prices and we can close fast to we buy your note payments.
- You won’t have to worry about administrative tasks like IRS income tax reporting requirements, IRS tax liens against the payor, collecting payments, etc.
- You won’t have to worry about payor issues like bankruptcy, divorce or death, causing a default on your note. (that’s now our worry)
- You won’t have to worry about destruction and devaluation of the property.
- You won’t have to worry about your note being assumed by another borrower who turns out to be a deadbeat.
Q: How do you come up with the price to offer me for my note?
Ultimately when we look at a note to buy anywhere if the U.S. … we look at a few factors.
1) The note: Payment amount, loan terms, # of remaining payments.
2) The asset: A bit about the property or asset backing the note. If it’s a quality asset, the note will be worth more.
3) The borrower: The seasoning on the note, credit profile, payment history, etc.
Once we understand the situation well, we’ll make you a fair offer. This offer is based on the value of the note, the risk of receiving on-time payments from the borrower, and the quality of the real estate securing the note.
Q: Do you have any fees or commissions when I am selling a mortgage note to you?
A: There are NO fees or commissions to work with American Funding Group. We buy and sell notes with cash… we don’t broker notes or charge the note seller any fees or commissions. In fact, you won’t pay any costs at all during the whole process… we pay every cost associated with the transaction. You just get access to the cash trapped in your note without the hassles or costs that goes with working with a note broker to sell your note payments.
Q: Is there any obligation when I submit my info?
A: No obligation at all. Once you tell us a bit about your note, we’ll evaluate the note , set up a call with you to find out a bit more about the borrower or to confirm some details, and make you a fair cash offer.
Throughout the process is totally your decision as to whether you’d like to sell your note to American Funding Group. We will not move forward with our purchase until you are totally comfortable. We are not happy, unless you are happy. No pressures. No hassles.