Five Deadly Mistakes Not To Make When Trying To Sell Your Southern California Note Paper or Real Estate Mortgage
September 7, 2008 by admin
Filed under California Note Buyer, Featured
Many Southern California real estate sellers over the past years have been forced to carry back notes on their properties as the availability of conventional financing has dried up.
If you are a note holder in Southern Californa and want to sell your real estate note, paper or mortgage, you should be aware of the 5 deadly mistakes to avoid when trying to sell your Southern California note, paper or real estate mortgage.
Here they are:
- Contracting With An Intermediary – Be sure your buyer is really the buyer and note just a note broker looking for a commission
- Failure To Get Proof of Funds – Due your due diligence on your buyer by requiring a written proof of funds from a third party to ensure that you
- Failure To Get References – If your note buyer is the real deal they should be able to give you at least two references of business people you can contact.
- Selling Too Cheap – Be sure to get a third party valuation of your note so you know what it’s worth before you sell it.
- Not Documenting the Deal Properly – Get a contract when you sell your note that lays out all the terms concerning recourse, what happens if payments stop, and other important terms.
Avoid these deadly mistakes and consult someone who knows notes, like Old Town Property Services, Temecula who buys notes in Southern California as well as other paper and mortgages
Southern California Note Buyers Short Sale Solutions Help Homeowners Save Their Homes and Credit
September 7, 2008 by admin
Filed under California Note Buyer
Old Town Property Services buys and sells real estate, assists investors in securing higher than average rates of return through private money lending, provides short sale, workout and other services to a wide variety of homeowners facing the loss of their home and damage to their credit damage who are located in Riverside and San Diego Counties California and throughout the Southern California area.
Many homeowners can’t afford to stay in their houses with huge increases in monthly mortgage payments, and Old Town Property Services helps many of these homeowners find solutions to the negative consequences of a foreclosure appearing on their credit report.
Homeowners desing help to save their credit should consider their options carefully when determining how to avoid foreclosure.
In fact there are three major solutions that Old Town Property Services suggest these tips to implement to avoid foreclosure:
- Arranging for a purchase of the home with a financial buyer who can execute a wrap and make the payments on the increased amount that the existing homeowner can no longer afford
- Assist in excuting a workout with the lender to lower the payment, forgive late fees and/or review the mortgage documents to determine whether it is possible to secure a modification of the loan that includes a payment reduction.
- Arranging for a short sale with the homeowners’ lenders