FL mortgage buyer

FL Mortgage Buyer aka FLMortgage Note Buyers

We help a lot of note holders in Florida as a FL mortgage buyer. We buy nationwide and Florida is one of our best states. We help mortgage note holders sell a FL mortgage note. As Florida mortgage note buyers we help you get top dollar for selling your FL mortgage note. While many people search for the term “Florida mortgage buyers”, you aren’t technically selling a FL Mortgage. The private Florida Mortgage you hold is the security you transfer when selling a FL mortgage note for its income stream.

Call Today to get a quote to sell your FL mortgage note. We are also FL commercial Mortgage Note buyers. We are here 7 days a week at 1-877-655-5625. Ask for Ron Stone. You can also submit your quote request at the link below.

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Tips For Private Mortgage Holders managing A Private Mortgage Note

Many home sellers are having to act as the lender in order to sell their home or investment property, creating a financial asset they must manage and protect. However, most private mortgage holders aren’t knowledgeable about this process, leaving them exposed to a potentially significant financial loss.

Below are some tips for private mortgage holders to protect their valuable financial asset?

1. Verify that the mortgagor's property taxes are paid current every year. If the borrower has not paid their taxes, you could end up in the middle of a tax lien fire sale. You would most likely want to avoid this by paying the taxes.
2. Keep an eye on the buyer's property insurance to be sure it is current. If the mortgagor has not paid their homeowner's insurance, you should take out your own policy and make the buyer pay for its cost each month.
3. Once a year, review the mortgagor’s homeowner's insurance coverage to be sure it is enough to cover the mortgage and that you as the note holder are the Mortgagee on the policy. This is critical in areas of increasing house values.
4. Review the home from the street a couple of times a year, looking for significant signs of disrepair. Some mortgage holders have found out that the buyer is not even living there any more and is renting the home out to a friend or family member.
5. If the payor shows a pattern of late payments, check to see if they are still employed. Consult your lawyer before contacting their employer directly. Also, if the buyer is self-employed, have a friend stop by their business to be sure they are still in business and are not having a going out of business sale. This is particularly important if these uncertain economic times.
6. Go to the county courthouse to check the county tax records once or twice a year for possible new liens on the home. Leins could be for a second mortgage, which may not be allowed per your mortgage agreement, or even a state or federal tax lien.
7. If the buyer defaults on the loan, contact a qualified real estate attorney immediately. Never try to work something out between you and the mortgagor without the advice of a real estate attorney.
8. Always, be on the lookout for a pattern of late payments even if the mortgagor is not technically in default of the loan. If you see such a pattern, immediately research other potential problems covered above and take necessary action.
9. Always keep detailed records of payments on the note, including date of payment, check number, returned check information, amortization schedule, etc. You will need this in case of a dispute or a default as well as documentation should you ever want to sell the note to a mortgage buyer.
10. If you didn't purchase a title policy at closing, you may want to purchase one now to cover your asset.
11. Lastly, if you are contemplating creating a mortgage note to help sell your home, be sure and consult with a professional mortgage buyer first so as to be sure the terms allow you to get top dollar should you ever need to sell a note. And be sure you pull credit on the borrower. If the buyer provides a report, be sure it is less than 30 days old and get a clean copy to be sure the report has not been tampered with. Here are some FAQs on selling a note.

The above tips not given as legal advice. Please consult with a real estate attorney for all of your legal dealings. 




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