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helping_user · Posted: Wed Apr 12, 2006 10:02 pm Post subject: Private Mortgage Note

I hear a lot of people nowadays going for private mortgage notes. Here are some details that can help you if you are really interested to go for it.

Private Mortgage Notes have become common because of its advantages:

More than 50% of applicants not qualifying for the full amount of loan seek private mortgage note.
Both the owner and buyer can save a lot of money associated with the closing cost and other fees if the transaction occurs through owner financing.

Seller may want to sell the note for a lump-sum amount of money and it’s a common transaction nowadays for residential notes, business notes and vacant land notes. Selling a note gives a lot of benefits to the seller:

Provides immediate cash.
No need to collect payment.

jerry · Posted: Thu Apr 13, 2006 7:26 pm Post subject: RE:

Hi,

Welcome to MortgageFit Community.

Great going helping user. This is one of those topics on which I did not know much. Its not the same after reading your above post.

Thanks,
Jerry

jlovette93 · Joined: 05 Jun 2007 Posts: 5 2.56 Dollars($)

That is true. There are a number of Real Estate Businesses that are looking to buy notes for what the property is worth on the market. Notes are more prevalent in most realestate sales.

Juliette

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