Q: Can I sell my Mortgage Note?
A: Yes, there are many Mortgage Note Investors that purchase Mortgage Notes, Business Notes, Promissory Notes, Trust Deeds and almost any kind of Real Estate Cash Flow Notes.
Q: Why would I sell my Note?
A: Maybe you need cash for another investment, pay down some bills, take a vacation.
- Or perhaps you are tired of:
- IRS reporting concerns
- Collecting those monthly payments from your borrower
- Making sure you are on your borrower’s insurance policy to protect your first mortgage note
- Verifying property taxes have been paid
Q: How do I Sell my Mortgage Note?
A: Selling a note with Equity Funding is easy. Just fill out our Free Note Quote form with accurate information. We usually can have a price for your Mortgage Note in 24-48 hours.
Q: If I fill out the Mortgage Note Quote am I agreeing to sell?
A: Absolutely not, this is information we need to accurately quote your First Mortgage Note, Promissory Note, Land Note or Trust Deed.
Q: I gave you my Note Payoff, why do you need more information?
A: Every Cash Flow Note is unique and its value is determined by a number of factors including but not limited to the credit worthiness of the payor, the type and location of the property, the monthly payment , term remaining and market interest rates.
Q: If I Cash Out My Mortgage Note is it discounted?
A: Most likely. In most cases the seller will need to take a discount when the note is sold. Without taking a little less there would be no incentive for anyone to buy it. Although there are exceptions, usually paying face value would not make the deal attractive enough for an investor to commit the funds for purchase. At Equity Funding LLC we are aware you are selling your note for money, plain and simple. It does not benefit us to discount your purchase more than necessary.
Q: Why are Cash Flow Notes discounted?
A: That is due to “The Time Value of Money”. In other words $100.00 today is worth more than $100.00 5 years from now and is less valuable with each year. When a person wishes to Sell a Mortgage Note it must be discounted to make the yield attractive to an investor as well as compensating him for assuming the risk of payment.
Q: Do you purchase other kinds of notes?
A: Yes, we can buy a:
- Balloon Mortgage Note
- Business Note
- Commercial Mortgage Note
- Deed of Trust
- Land Note
- Promissory Note
- Structured Settlement
- Lottery Winnings
- Mobile Home Note
Q: If I Sell my Mortgage Note, how much does it cost?
A: There is no charge to you, the note holder. We pay all closing costs
Q: Do I have to sell the whole note?
A: No, not usually. You can sell almost any amount of the future payments left to be collected. Often times it is to your advantage to sell the next few years of payments and keep the balance of the note. This is called a “Partial” purchase. When we gather the information for your free mortgage note quote we will be asking why you want to sell and how much you need. We are not trying to pry! This information allows us to tailor the offer to fit YOUR BEST INTEREST. Lets say your real estate cash flow note has a balance of $100,000 due to you in 10 years. You want to sell to free up some cash for another project but you only need $30,000 for that project. It is much better at that point to sell the amount of payments that puts that cash in your pocket. You will realize less of a discount and you still own the balance due!
Q: How will this affect the party making payments?
A: Aside from changing the name on the check and address on the envelope, there will be no effect on the payor whatsoever. When you sell a mortgage note the purchaser is legally obligated to abide by the original terms of the note and cannot make any changes without the consent of the payor.
Q: I live a long distance from the property I sold, do I have to attend the closing?
A: No, we overnight all closing documents to you or your closing agent, usually a title company near you. You then simply review and sign them at the title office.
Q: How do I get my money?
A: The cash for your note is placed in an escrow account, at closing the payment can be certified check or wire transfer, your choice.
Q: Where can I find more Mortgage Note Information?
A: Check out our free Note Owners Manual, it is a wealth of information regarding taxes, insurance protection as well as a glossary of common terms and a payment record.
Q: Why should I deal with Equity Funding LLC?
A: Equity Funding is a Nationwide Mortgage Note buyer that is professional, confidential and bottom line WE PAY MORE FOR YOUR NOTE! In fact we guarantee it! Due to our high volume and low yield requirements we can get you the Best Note Quote. In fact, if you bring us a bona fide quote from a competitor we will beat it by a minimum of $250.00!
