Get Cash For Your Mortgage Note
Did you sell a home using seller financing? Tired of waiting on your money? Worried the buyer will stop paying? We buy real estate notes, mortgages, trust
Reason 4 To Sell Us Your Note
Headaches of Dealing With Late or Defaulted Payments
If legal action is required, you the seller have the right to initiate foreclosure proceedings. Your best bet is to find an attorney with experience in the area of real estate foreclosure. Declaring a loan to be in default and starting the foreclosure process is a serious matter and should be handled by an attorney familiar with the laws of the state in which the property is located. The biggest mistake made by Sellers in this area is:
1. Trying to take matters into their own hands
2. Delaying the exercise of their rights.
Begin to think in terms of foreclosure when the Borrower is one month behind, not three or four months. Keep records of all written and spoken conversations with the Borrower, including dates, times, and what was discussed. You’ll never know how or when these records will come in handy until you need them. Because if you don’t have them, it could be too late!
Having a seller owner financed mortgage is a big headache if you have a problem borrower. Cross your fingers that your situation works out for the best. If not, there are alternative solutions and you can get out of it and still come out ahead. You can sell your mortgage note to an investor for cash today while they take over your situation.
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