mortgage note creation - Posted by kennethscooper

Posted by Jon Richards on March 22, 2001 at 11:49:23:

Ken: The only caveat is usury on a hard money loan.

Check with the title company. You certainly should have the mortgage drawn up by a professional. It should not be expensive. You should also get a credit report, and a credit application from the payor. Verify his employment, and try to find out what he intends to do with thte money. The secret here is good underwriting. Don’t let greed, and 12.75% keep you from making a good decision and good investment.

Best of luck

Jon Richards,
NoteWorthy Publisher

mortgage note creation - Posted by kennethscooper

Posted by kennethscooper on March 22, 2001 at 08:36:09:

I agreed to loan a fellow educator three thousand dollars. They agreed to pay 12.75 percent for twelve months with their home as collateral. Should I get a title company I have dealt with in the past to create what I need? Can I see the sample since I have all the information. Need mentor in Miami.