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Great! But, not so fast. There are certain steps to keep in mind so you are not overwhelmed when you get started. The following is a list of tasks you can expect to be faced with prior to cashing out the note. It applies to real estate notes, business notes, mobile home notes, land notes and any other promissory note that is secured by property or assets. 1) Find copies of all of the documents that were used to close the sale when it took place. Typically this includes (but isn’t limited to) a copy of the Mortgage or Deed of Trust, a copy of the Promissory Note, the Closing/Settlement Statement, and the payor’s name ...
The main four are equity, seasoning, interest rate, and credit of payer. The more of these you have in your favor the larger lump sum you will get. This is why many mortgage note offer a free no obligation quote. If you look through some of the questions there, you’ll see that they are simple and only take a few minutes to fill out. These type of questionnaires are designed to keep you from having to dream about how much money you will get. The coolest part about it is, if nothing else, you know how much money you could receive if you wanted it. 2. How do I sell my note ? Selling your Read More
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