Finding Mortgage Buyers - Posted by Jeff

Posted by Josh on March 31, 2003 at 12:44:12:

I would think you’d have a decent number of people interested just from the post on the board. The other questions you’ll get will be your credit scores, and what type of property is it (rental? is so, what is the income), to get a better picture on the deal.

Finding Mortgage Buyers - Posted by Jeff

Posted by Jeff on March 31, 2003 at 10:22:31:

If I create an unseasoned mortgage with a 12-18 month term with an LTV of 70%, prepay 6 payments, and offer a 13% rate, where do I go to find a buyer for my mortgage?


Jeff L. Weaver

How and WHY is “paper” being created? - Posted by Michael Morrongiello

Posted by Michael Morrongiello on March 31, 2003 at 22:06:11:

Under what circumstances is the mortgage being “created” - is it as the result of a True sale of the subject property in an arms length sale transaction?


Are you simply “creating” this Mortgage so you can attempt to peddle it and raise cash liquidity?

Please recognize that these are two VERY different transactions. The former is not a problem as plenty of “paper” investors will purchase “paper” that has or is being created as the result of a sale (a true purchase money type transaction)- however the later scenario has far few takers for “paper” created under such circumstances. The reason: - its begs for the question to be asked and answered; Why not simply refinance to get your cash out of the property? - “paper” created under this type of scenario is generally not considered to be a “squeaky clean” type transaction.

To your success,
Michael Morrongiello