A performing note is one where the payments are made on time by the homeowner to the note holder. The non-performing note is essentially a note that is in default and can no longer expect repayment against the original terms of the note. Non-performing notes and non-performing loans are terms used interchangeably. Investors buy non-performing
Once mortgage note is sold, the new mortgage note owner assume the legal position you currently hold. When a mortgage note changes hands, the new owner is required to inform the mortgage payer. Consumer protection laws require them to provide the name, address and telephone number to the best of their knowledge. The payer should
Note seller can expect a free quote/offer from the note buyer. This note quote usually reflects a net figure to the note seller. Note Buyer typically pays all acquisition costs during note buying process. These costs usually include a property valuation, title insurance, recording fees, and the closing fee to an attorney or title company.
Mortgage notes can be worth any amount ranging from $10,000 to tens of millions of dollars. Do you want Note Buyers to compete for your note? NoteAdvocate is a free platform providing tools and resources designed to equip note sellers through the mortgage note selling process. Submitting a request into our industry leading Mortgage Note
You can calculate an approximate value of your note by using Note Value Calculator. It takes into account your note maturity date, interest rate, number of payments received. This estimate would not be final, because the other factors like the credit of the payor, etc. will influence the value of the note. Once you estimated
