I am looking to sell part of my mortgage note now!
Selling a mortgage note can be a great way to get a lump sum of cash. In most cases you will get more for your note by selling part of the note now. Then later… you may consider selling the rest of the note.
There are a number of ways we can structure the sale of ALL or PART of your note, to help you get the cash you need on your terms. As you know, there’s a tradeoff of time vs. money when you sell your mortgage note. The two examples below will give you an idea of some of the options you have to sell part of your mortgage note to American Funding Group, one of the nation’s trusted note buyers.
Example #1 – Sell Part of Your Mortgage note… Keep Remaining Payments
Maybe you want all or most of your principal that is stuck in the mortgage note … but you still want to receive some future payments, as well increase your return over the term of the note.
Let’s say you hold a first position $120,000 private mortgage at 7% for 15 years with 11 years remaining. The unpaid balance is $90,177. The monthly payments on the note are$1078.59.
At this time before selling your mortgage note, you want to look at options.
You may sell 66 payments to American Funding Group for $50,086* in cash today, and you’d receive the mortgage back after those 66 payments are received by us. You would continue to collect the remaining $58,944 on the note.
See what other notes sellers have had to say about American Funding Group.
Example #2 – Sell All the Remaining Payments on Your Private Note
Maybe you just want to regain control over the cash locked in your mortgage note… and you want to sell the entire mortgage note (all of the remaining payments) to get rid of the administration of that note (taxes, insurance, collection, etc.).
Let’s use the same example as above… you hold a first position $120,000 private mortgage at 7% for 15 years with 11 years remaining. The unpaid balance is $90,177. The monthly payments on the note are$1078.59.
Recently, the borrower has been late on their payments…and you just don’t want to have to worry about chasing them for payments or foreclosing on the note.
You’ve already received a lot of your principal back and you’re ready to move on.
You can take the remaining 132 payments and sell mortgage note to American Funding Group for $78,183* in cash today and be completely rid of worry about that note or the payments ever again. We’ll take the note over, any collections headaches, and if the borrower stops paying… that’s our problem NOT yours.
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* The purchase amounts in the examples above are for illustration purposes only. The purchase amounts will vary depending on the current interest rate environment. See what we can offer you when you sell mortgage note today by calling (772) 232-2383 or submit your info in the short form above to get started.
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