|
FREQUENTLY
ASKED QUESTIONS
Can't find
your answer here?
Contact
Us! |
How
would I benefit by selling you my mortgage?
What
type of properties qualify for purchase?
Will
I receive the full amount of my mortgage?
Why
do you discount mortgages?
Will
I have to pay any costs associated with selling my mortgage?
Will
selling my note change anything for the payer?
How
do I get a purchase quote?
Do
I have to sell my whole mortgage?
Is
it a complicated process?
How
long does the purchase process take?
How
do I get paid?
|
| How
would I benefit by selling you my mortgage?
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to Top |
|
You'd
be free of managing the note... of the paperwork involved,
of making sure the payments are made each month - and on time. |
|
You'd
eliminate the risk of default by foreclosure... the legal costs,
the difficulties of eviction and, of course, the loss of monthly
income. |
|
You'd
have cash today to use as you please, or to invest in
long-term, income-generating/interest-bearing accounts or
high-yield retirement plans. |
| What
type of properties qualify for purchase?
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to Top |
|
Single
and multi-family homes, condos and townhouses, mobile homes with
land, Commercial and land only. |
| Will
I receive the full amount of my mortgage?
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to Top |
|
Usually
not. Most mortgages are purchased at a discount, which would
be determined by the particular circumstances of your mortgage. |
| Why
do you discount mortgages?
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to Top |
|
Because
of the time-value of the money. Simply stated, a lump sum of
money in the hand right now has more value than payments stretched
out over many years. |
| Will
I have to pay any costs associated with selling my mortgage?
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to Top |
|
No!
We pay all closing costs. |
| Will
selling my note change anything for the payer?
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to Top |
|
No.
All terms of the mortgage remain the same. The only change is the
address they send their payments to. |
| How
do I get a purchase quote?
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to Top |
|
Click
here to
apply now on-line, or call our toll-free number at 1-800-677-1990.
We will send you a FREE
quote! |
| Do
I have to sell my whole mortgage?
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to Top |
|
You
do not. You can sell a stream of payments and retain the rights to
the remainder. Let us know the amount you need and we will
tell you how many payments you will need to sell. |
| Is
it a complicated process?
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to Top |
|
No!
In fact, it's very easy. Once you have accepted our offer, we will
give you a list of loan documents and information we need to start
the purchase process. |
| How
long does the purchase process take?
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to Top |
|
Closing
normally takes place within 10 to 15 business days. |
| How
do I get paid?
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to Top |
|
As with
all Real Estate transactions, you will be paid by cashier's check,
or funds can be directly wired into your bank account. |
