If you’re a homeowner and recently sold your home via owner financing, then you’re holding a mortgage note.
Sellers financing has grown in popularity over the past years due to the economic downturn. The downtrend has made it difficult for homebuyers to obtain mortgages to fund their purchase; which has led to more people resorting to owner financing.
With seller financing, you being the seller acts as a bank. Instead of receiving a whole sum, you’ll be paid for the sale of your property in installments. Most mortgage notes last for 5 years, within which the home buyer would’ve mortgage loan to pay up the seller.
If you have a mortgage note, there are lots of reasons to sell your mortgage notes for cash now.
- First and most importantly, you’ll receive your money in bulk. This way you can use the money to accomplish important goals compared to when you receive it monthly.
- Since you’re collecting money every other month, you have to keep adequate records of each payment. This is also tedious work which most would do without. When you sell, you will pass the responsibility of collecting monthly payments to the mortgage note buyer.
- It’s no longer your concern whether or not the borrower (home buyer) makes a payment.
- You won’t have to worry about the complicated tax and insurance payment that comes with seller financing.
If any of these reasons relate to your current situation; then it’s time to sell your mortgage note.
To top it up, there’s no restriction or requirement on how you can spend the money you generate from the sale of your mortgage note. You can decide to invest in other investments, pay off debts, pay medical bills, tuition, etc.
The good news is that you can sell your mortgage notes right now to Simanda Investments LLC. The company has been purchasing notes, and real estate contracts for years and pride itself on their unique process and offering the best possible prices.
Sell Your Mortgage Note To Simanda Investments In 4 Simple Steps.
- First, fill out the form on their website.
- They will call you and get any other information from you.
- Then they’ll evaluate your mortgage note and make you an offer.
- If you accept the offer, provide all the necessary documents to complete the due diligence.