` - Posted by William, Columbus, OH
Posted by William, Columbus, OH on June 10, 2000 at 22:32:45:
Jay: You ask how do notes work. When you recently bought your property someone approved you for a loan to purchase it, right? Or possibly you purchased it for all cash, in which case this won’t apply. If you financed the sale then the lender is carrying a note on the mortgage. That’s what a note is and pretty much how they work. Those that monitor this site are interested in either learning about the process or are doing it in some form … such as buying notes that were created and carried by sellers of property. Like owner financing. As Carol stated, if you just read some of the previous posts on this site, explore the various learning materials available, your question will be answered more than adequately. Okay? Best wishes for your learning process, my friend.