One of the first questions a note seller asks is, "How much can I get for my note?" At the end of the day, that is what it is all about, right? Or is it? For some, selling a note is not just about price. For many people selling a note is about getting out of the hassle of collecting payments, dealing with defaulted buyers, reporting taxes, or having their money tied up for the length of the … [Read more...]
Safekeeping the Original Mortgage Note
Can you easily locate the original mortgage note? This important legal document should be kept in a safe place, and here is why! The promissory note is a promise to pay or IOU from the property buyer. It spells out the amount due and terms of repayment. In legal jargon it is known as a negotiable instrument. Similar to a check, the original must be presented to collect or prove ownership. If the … [Read more...]
