Creating A Mortgage! - Posted by J.

Posted by Paul_NY on February 21, 2000 at 21:29:24:

J.,
After you own a property, you can owner finance the sale of that property. Then you can sell the owner financing document (note) to a notebuyer.

It is better to sell the property using conventional financing, because notebuyers get a discount on the note amount. For example, a $24,000 note would sell for $21,000-$21,500.

If, however, your market is slow, then selling the note is a way to receive your money faster.

Best of Luck!

Creating A Mortgage! - Posted by J.

Posted by J. on February 21, 2000 at 16:42:53:

I saw a post the other day it was posted on another site something like this. "Finding a property well below market value and creating a mortgage on it and sell the mortgage to a note buyer"
I was woundering if someone could explain or maybe recommend a course on flipping a property and creating a mortgage (note) and than sell the note to a note buyer at closing or how ever this works.
Any Advice would help, Thanks and i hope you’re having a Great Day!
J.