should I take back my mortgage? - Posted by Scott

Posted by Doug on December 14, 1998 at 05:09:01:

Jason is right about the discounting of the paper. There are many factors that will decide the Value of the paper… Seasoned or unseasoned, credit, interest, etc. I also buy notes and can buy the note the same day you create it for the buyer. I can give up to 97 cents on the dollar for the purchase of the entire mortgage or if you just want to get some cash up front I would be interested in buying a piece of the mortgage. You need not do anything but get me the buyers information and I can give you a free quote based on that… Anyway contact me if you need more info
Douglas Timko

should I take back my mortgage? - Posted by Scott

Posted by Scott on December 12, 1998 at 15:12:55:

I am plannig to sell my home in the Spring, and I,m considering the possibility of “taking back my mortage”. What factors should I consider? What are the risks? …the rewards?

Re: should I take back my mortgage? - Posted by Jason(NC)

Posted by Jason(NC) on December 13, 1998 at 24:59:29:

I buy mortages and accounts recievable and this is what I look for:
First try to get as much down as possible, I like to see ten percent down. Interest should be ten percent or higher. You can do thirty years or fifteen it does not make that much of a difference, to the investor.

This is a perfect situation Scot. Now I do purchase notes that are not structured this way also, but I can tell you that us investors will discount heavier.

I would only sell a note if you want cash now to do more deals. Thanks Jason(NC)