Posted by John Merchant on October 14, 2007 at 18:44:15:
Here in Puget Sound area a lot of us do use a note collection co on Lonnie deals as their 3d party-kept records and systems are on-the-money and they make great witnesses in court should an eviction or repo action ever be necessary.
They wouldn’t be cross-examined like you or I would, about the accuracy of their books and records as they have no motive to lie or fudge the facts.
Not only for otential law suit, but also for benefit of the buyer so as to enable him/her to be able to prove his/her note payments have been made right on time…helps him/her rebuild shattered or battered credit.