What are Non Performing notes?

2009 July 2

While every non performing note buyer has a different definition of a non performing notes, they all are very similar. The common part of what note buyer calls a non performing mortgage note is a morgage note where the payor is either not paying on the private mortgage note or is significantly behind – usually 60 days late or more.

Non performing notes definitionA private mortgage buyer will discount the purchase price paid when you try to sell a non performing note more due to its non performing note status, even if the credit of the payor is decent.

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