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When you are buying and selling homes there are so many tricks to get what you want it is almost impossible to know them all. Here is an explanation of selling private mortgage notes.
Can I Sell My Private Mortgage Notes?
by Afra AmirSanjari
In this country millions of homes are sold every year. In most cases buyers go to a bank or finance company to seek mortgage financing.
In some cases, 200,000 in the U.S., home buyers rely on the seller rather than a financial institution to provide financing because:
• The purchaser may not qualify for a traditional mortgage.
• The purchaser may be a relative looking to save on closing fees.
• The seller may be interested in having a long-term income stream.
Often the seller is pressured into providing financing for the purchaser instead of receiving a lump sum. This forces the seller to assume the role of a mortgage company, worrying about servicing and collecting a monthly income stream. A stream, which may or may not be consistent, depends on the payer's ability to meet their monthly obligations.
Peacock Capital provides an option to note holders nationwide who are ready to sell their homes and use the equity for their own purposes.
We will purchase the note for a lump sum and collect the monthly checks. No more worrying about the "Check is in the mail" Or, "Will they stop paying, forcing a foreclosure?" Or, "Has my buyer kept up with their insurance payments?" Etc.
Afra AmirSanjari is the Principal for Peacock Capital.
Peacock Capital specializes in solving the cash flow challenges of Small/Medium Businesses, Government Vendors and Individuals with innovative financial solutions by providing a network for securing operating capital.
Article Source: www.businesshighlight.org
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More articles by Afra AmirSanjari:
Eight Key Steps to Selling Your Business and Cashing In
Selling Your Business Note
What Is Cash Flow?
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