If you’ve been thinking about purchasing the non-performing notes for sale you’ve been hearing about, it might be time to make the move. A great way to make money is to make the trust deed investment a performing note (in the end) that can ultimately be sold for two times what you paid.
Non-performing notes for sale can seem scary because they are accounts where collection attempts on the mortgage have been unsuccessful up until time of sale. If this puts you off a bit, think things through. These non-performing notes for sale are easy to get because many lenders are willing to sell non-performing notes at a loss, which is great news for you, the buyer.
It means profits for the buyer and profits is always a happy word.
Remember, even if the loan fails to fix the performance of the Non-performing notes for sale, the non-performing notes for sale are actually secured debts. That means that the note owner is still entitled to the property. This can be a great alternative to foreclosure auctions.
So go on and contact a trusted loan broker in your area. They will help you find non-performing notes for sale that you can buy so you can begin to make profits.
Just take a look at the mortgage agreements of the non-performing notes for sale that you’re going to purchase and this will help you figure out what you need to do.
In the end, you may find that despite the long wait, a foreclosure might be the easiest thing to do on mortgages that are more than 90 days late on payments.
It is easier to have a foreclosure only because sometimes payment plans do unfortunately fail and then you have to go ahead with the foreclosure process anyway. Yes this process is time consuming with the six weeks to six months timeline. However, when the process is finally over, you will get full legal possession of the property.
- Big Daddy Dennis Hard Money Lender
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