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October 28, 2021

Internet Business Newswire

Global Business News

Simanda Investment Offers Best Rates For Mortgage Notes

Simanda Investment buys promissory notes from private and institutional entities.

A mortgage note, also known as a promissory note is a legal document that provides information, and outlines the terms for purchasing a property. When a lender agrees to give money to a borrower to buy property, the lender and the borrower agree on a plan for repaying the borrowed, and record the plan in what is known as a mortgage plan. However, the owner of the note (the lender) may sell it at any point for a lump sum of cash to a buyer in the secondary mortgage note market.

Is It Legal To Sell A Mortgage Note?

It is legal to sell a promissory note. You can sell your note as long as the borrower is informed during the application for the loan. Whether you’re an institution or private entity, you are legally required to notify the borrower of the change.

What Is The Market Value Of My Real Estate Note?

There are many primary and secondary factors that come to play when determining the value of a real estate receivable for sale. Some of the variables to consider include, down payment, credit score of borrower, loan terms and amortization, among others.

For example, the more money you collect as a down payment when you sell a property and create a mortgage note, the more likely you will be interested in selling the note down the road. Likewise, the higher the credit score of the borrower making payments, the higher the chances you have to receive a better rate when selling your note to an investor.

A credible mortgage note buying entity will be able to review the specifics of your case and offer you an appropriate rate based on the value of your note on the secondary mortgage note market.

Selling A Mortgage Note

The mortgage note selling process is quite straightforward, and shouldn’t take much time to close after note evaluation. Here are the steps to take when selling your note to an investor in the secondary mortgage note industry:

  • Gather the details on the promissory note you want to sell
  • Provide the details to the note purchasing entity for evaluation
  • Decide if the rate offered is right for you and proceed with the sale
  • The buying entity performs due diligence and underwriting process
  • You will receive your cash based on agreement you have with the buying entity

Looking for a reliable place to sell your Mortgage Note? 

No matter your reason for selling your mortgage note, you can rely on the expert service offered at Simanda Investment. Over the years, they have built a reputation as the industry’s leading experts buying notes from private and institutional entities across the country. If you have any questions about selling a mortgage note, visit their  official website.