- Non-performing notes
There’s a chance that you’ve been wondering about the non-performing notes for sale. A great way to make money is to make the trust deed investment a performing note that can ultimately be sold for two times what you paid.
Non-performing notes for sale are accounts where collection attempts on the mortgage have been unsuccessful. It might sound like a hassle to purchase, but 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.
Because you know what that means for you? It means profits.
Non-performing notes for sale are actually secured debts so even if the loan fails to revive its performance, the note owner is still entitled to the property. So when you look at the overall picture, investing in notes for sale can be an excellent alternative to high intensity foreclosure auctions.
How do you go about purchasing a non-performing notes that’s for sale?
Contact a trusted loan broker in your area and they will help you find non-performing notes for sale that you can buy.
A simple review of the mortgage agreements of any non-performing notes that you purchase will help you determine what you need to do after looking at the payment record. A foreclosure might be the easiest thing to do on mortgages that are more than 90 days late on payments.
It is easier because sometimes payment plans do unfortunately fail and then you have to go ahead with the foreclosure process anyway. This process can take anywhere from six weeks to six month depending on what kind of property is held and what actions the mortgagor takes. While this is of course time consuming and definitely a damper on your day, rest assured that once the process is over, you will get full legal possession of the property.
- Big Daddy Dennis Hard Money Lender
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