What kind of notes do we buy?
- Privately held, performing, seller-financed notes
- Re-performing bank loans with 12 months of verifiable, on-time pay history
- 1st Position Mortgages or Deeds of Trust; no seconds
- Land Contracts or Contracts for Deed (Some states require that we first convert them to a Mortgage or Deed of Trust)
- Notes secured by residential or commercial properties anywhere in the U.S.
- Notes secured by land anywhere in the U.S.
- Notes secured by rental properties
- Notes secured by mobile homes, provided the mobile home has been permanently affixed to the land and is taxed as an improvement
- Minimum property value of $50,000
- Minimum current balance of $20,000; no maximum current balance
- Minimum of 3 months of seasoning (3 payments have been made)
- If down payment is less than 10%, then a minimum of 12 months of seasoning (12 payments have been made)
- Sub-par credit will be considered on a case by case basis with adequate seasoning and down payment
- Real estate taxes must be current
- We will buy all or part of the Note (a partial)
- Interest Only Notes considered on a case by case basis
- Underlying loans on wrap mortgages must be paid off at closing