ow To Create Your Own Mortgage–and Sell It - Posted by J.P. Vaughan
Posted by J.P. Vaughan on May 17, 1999 at 10:49:49:
Over the past 3 1/2 years, the one article that seems to
have generated the most questions and controversy is my
article titled, “How To Create Your Own Mortgage.”
Although Terry and I have done this many times, I’ve been told
repeatedly that it can’t be done, or that it is illegal, or
that so-and-so absolutely cannot find a buyer for the
"unseasoned" note, and on and on.
We have just put up a banner for a company called “American
Note.” That’s EXACTLY what they do–they buy brand new,
newly created, unseasoned notes right out of escrow. The
money they pay for your newly created note FUNDS your
purchase and resale.
A dynamic and rather brilliant lady named Judy Miller owns
American Note, and they are PRICIPALS, not brokers. So you
can say “goodbye” to the broker upon broker upon broker and
the wannabe brokers who can never really fund your deal.