How do I create a note? - Posted by JPL

Posted by Michael Morrongiello on August 31, 2005 at 22:44:40:

I think you are a little confused… you don’t “Create a Note” to go and bid and buy foreclosed properties at a foreclosure auction.

However if you are dealing in the pre-foreclosure, foreclosure auction/ sale, or POST-foreclosure arenas then your investor friend could LEND you the funds to acquire some of these properties and simply secure his loaned funds to you by recording a mortgage (or Trust Deed) against the property. This is your investors collateral security for the loaned funds provided to you.

A competent Real Estate attorney, title company, etc. can handle these transactions for you. Don’t be “pennywise and pound foolish” and try and do these forms, etc. by yourself the first several times through. It is far better to enlist the assistance of competent personal who are familar with the paperwork involved in these types of loans and then have them hanlde the transactions for you UNTIL you have it down cold.

Best to your success,
Michael Morrongiello

How do I create a note? - Posted by JPL

Posted by JPL on August 31, 2005 at 22:06:36:

Here’s what I’m trying to do? I’ve got an investor willing to loan me cash to buy properties out of foreclosure. How do I got about about creating 100% LTV note on the property. Where can I find the forms to do this? Can an escrow company help with this? Do they record the note and lien on the property? Obvious novice here! Any help would be appreciated.