- Non-performing notes
If you are looking for a way to make more money then you need to start considering Non-performing notes for sale because while they might sound like the opposite of a money-maker, your wallet will be very happy. In the end, when you make the trust deed investment a performing note that can ultimately be sold for two times what you paid, you’ll see what we’ve been talking about.
So it sounds fantastic and that’s because it really is. Non-performing notes for sale are the accounts where the collection attempts on the mortgage have been unsuccessful. That’s bad for someone who can’t pay their mortgage, but that’s a good thing for you.
You will soon see after talking to your loan broker. Non-performing notes for sale are actually quite easy to purchase as long as you know what you’re doing and your loan broker will surely help you with that.
Another name for Non-performing notes for sale is ‘secured debts.’ If this is a confusing term, it really just means good news for you and your bank account. You see, even if the loan fails to revive its performance, the note owner is still entitled to the property. So your investment in non-performing notes for sale can be an excellent alternative to the often-stressful foreclosure auctions.
So how can you purchase a non-performing note that’s for sale?
- Find and contact a trusted loan broker. Your loan broker can help you quickly find a non-performing note for sale in your area.
- Next, make sure that you look over the mortgage agreements of any of the non-performing notes that you purchase. You need to determine what you need to do after looking at the payment record.
Last but not least, go ahead and offer up a modified loan repayment plan. In the end, a modified plan will make the most sense because you will have paid such a low price for the non-performing note that’s for sale that it will be simple for you to lower the minimum monthly payment.
- Big Daddy Dennis Hard Money Lender
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