Elmira Nancy
Joined: 13 Nov 2009
Posts: 28
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| Posted: Sat Nov 21, 2009 5:23 am Post subject: What is a Real Estate mortgage note? |
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A mortgage note is a lot like a IOU secured against property. Terms of payment and interest rate are the most notable items you will find on a real estate mortgage note.
Its possible to sell them. It depends on the performance of the note and what you are willing to give as a discount. If the note is on a property you've foreclosed on, you might be better off just selling the property although there are investors out there that will buy non-performing notes but at a drastic discount. |
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