Mortgage notes are legal documents accompanied by promissory notes that state the terms for the agreement of loan taken to purchase a property. Mortgage notes detail the amount that was borrowed, the interest rate, the identity of the lender and borrower, the plans for repayment and the consequences of a default in payment. They allow lenders to be able to lay legal claims on the loan and take legal actions against the borrower.
Mortgage notes can however be sold in part or in full for various reasons depending on the person. However, people may be confused on what situations to sell their mortgage notes, whether or not they can sell their mortgage notes and how to sell a mortgage note. Simanda Investments is an investment company that helps you get clarity and answers to all of these questions and more.
3 Reasons To Sell A Mortgage Note
Urgent Need Of Cash
You can sell your mortgage note for a lump sum of cash either for debt repayments, hospital bills or other reasons that require large sums of money you do not have at hand. This can also be during retirement when one may need money to live happily without other income sources.
Investment In Another Enterprise
One might sell a mortgage note to invest. Money obtained from the sale of mortgage notes can be put in another profit yielding field with higher profits and less risk of depreciation than property. It helps to get fluid cash for those investments.
To Avoid Risks
There are a lot of risks involved in holding a mortgage note including the death of the debtor and the inability of the debtor to pay up or a declaration of bankruptcy. Also, the house might not be sufficient to settle the mortgage in the case of a default, the house might also get damaged. In the occurrence of these events, you will only lose. To avoid this, one can sell the mortgage.
Where To Sell Your Mortgage Note
Simanda Investments is an investment company owned and operated by Simon White, that buys and sell mortgage notes, business notes, and real estate.
They walk you through the sales process of your mortgage notes, making an honest evaluation of your note before making an irresistible offer. They ensure there’s clarity in the whole process and make the required payments promptly understanding your need for money.
With Simanda Investments, you can be sure your note is in safe hands and it’s a con-free zone. Speak to an expert at Simanda Investments or visit their website to get a FREE note evaluation.