How to Protect Your Promissory Note

If you have sold a property with owner financing, then you now own a note. If you purchased a note, now what do you do with it? What do you do other than wait for the monthly payments to come in?  How should you care for your note? There are many steps you should take to keep you note safe. Safeguard you note Safeguarding of your note is just as important as other important documents you may have: pink slips, social security cards, birth and marriage certificates, or will and so on.   If an attorney assisted in the closing of the property, sometimes, the attorney will keep the original note document and give you a copy. You have the option of keeping the actual note yourself.  It is a good idea to keep the original note with the original mortgage of deed of trust which will be returned to you after it has been recorded at the county recorder’s office. Keep a detailed payment history Record keeping of the payments made on a note is necessary. This is help prevent any questions that may arise about payments made or not made.  Even if you have no plans to ever sell your note, it may help the borrower should he/she decide to refinance if you have a balloon payment. Or, if there comes a time when you decide to sell, the accurate payment history will help you get the highest possible price. Complete Article http://nationwidesecuredcapital.com/Sell-My-Note/protect-promissory-note/

Note Buyers Can Help You Raise The Cash You Need

A new breed of real estate investor has sprung up over the last few years, the real estate note investor. Investing in real estate notes is not new but it has seen a huge revival. There are basically to types of note buyers. Note Buyers - We Buy Notes Fast 1) Note Buyers or Note Investors who buy performing seller financed notes from people hold real estate paper, also know as real estate promissory notes or real estate mortgages. There are many reason a note holder might want to sell a note to a note buyer. You might want to raise some cash to pay off some bills or you might want to sell you note to have a great vacation. If you are a note holder and you need to raise just a little cash you could sell just a partial interest in a note for example say you own a $100,000 note that pays you 7% over 10 years, you could sell several years of payments to a note investor. Some Note Investors prefer to do this as it is less risk for them. Note Buyers 2) Non Performing Note Buyers: These are Investors that bad delinquent mortgages or notes mainly from large institutional banks. There are Billions of dollars of bad mortgages or bad real estate promissory notes and many Investors are making a fortune from buying these bad debts from the banks and turning the non performing notes into performing notes.

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Without The Real Estate Loans To Finance The Purchase, The Dream Of Owning The Real Estate Would Essentially Remain Unfulfilled.



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And, Once The Borrower Has Got The Money He Can Payback The Amount And Get Back The Full Possession Of The Home.



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How Maintain the Maximum Value of your Promissory Note

Once you have sold the property, and created your note and are collecting loan payments - there are some very important ways that you will keep your loan at maximum value. A partial list is -

  1. Keep the original loan documents - particularly the original promissory note - in a safe and secure location like a bank deposit box
  2. Monitor tax payments
  3. Monitor insurance coverage on the property
  4. Keep careful records of payments and deposit to bank account.
You can obtain a complete list of ways to maintain your Note at maximum value in a complimentary copy of "The Note Holder's Handbook"...