What Are My Options When Selling A Partial Mortgage Note?
One of the beauties of selling a partial mortgage note is the number of options. Not only does a private note seller usually get the best value when they sell a partial note but they can structure the sale to exactly fit their short and long term financial goals. Here are just a few options for a note seller selling a private mortgage note with a balloon payment. 1) Sell the entire future payments, 2) Sell a percent of the payments each month, 3) Sell X number of future payments, and 4) sell all future monthly payments and a portion of the balloon payment. I could go on but you get the gist. So if you don’t need to sell a note in it’s entirety, sit down and figure your future financial needs the next 5 to 10 years before you request a quote on a note from a private mortgage buyer. You might just get exactly what you want.