Archive for November, 2009
Nov
30
How To Sell My Mortgage Notes Quickly And For Top Dollar
Posted by: | CommentsJamie Sherman asked:
Any given year, millions of people who are carrying private mortgage paper want to know the answer to the question: how do I sell my mortgage notes? Well, here’s what you need to know:
In the United States, a countless number of real estate transactions are conducted without the aid of a real estate agent, or even the involvement of a bank. Owner financing often allows the seller to get top dollar for their real estate because they are selling to a segment of the population who can’t or doesn’t want to get bank financing.
For people who sell their real estate by offering seller financing, therefore, it is often necessary to create a mortgage note.
The buyer of the real estate then will make payments to the seller who is carrying the mortgage note. The seller, in effect, becomes the bank.
Understandably, many note holders eventually want to sell their notes after it has seasoned.
There is a great deal of flexibility when it comes to selling a note, because you can sell it in its entirety or you can choose to sell only a portion of it to raise immediate cash and still continue to receive residual income on the rest.
How To Sell my Mortgage Note
The answer to the question: how do I sell my mortgage notes is simple. You need to find a reputable note buyer who has years of experience and knowledge and can explain to you how much you can get for your note.
The amount you can expect to receive will vary and be determined by your particular note. Some mortgage notes are inherently riskier than others. As such, a note buyer will offer different amounts of money for different notes because the note buyer is the one who then assumes the risk of default.
A competent professional note buyer should be able to help anyone who wants to “sell my mortgage note”. They should not charge you for discussing your note with you over the telephone. A phone call will serve as a discovery for the note buyer as he or she finds out details about your note.
You, in the process, will get to learn about how much you might expect to get for your particular note and decide if you want to go through with a sale.
For anyone who wants to sell my mortgage notes it’s important to remember that money today is always worth more than money tomorrow due to inflation.
In short, because of default risk and inflation, a note buyer must be able to purchase your note at enough of a discount to justify the declining purchasing power of the dollar over time and the chance the person paying on the mortgage note will default when weighed against the potential profit of the note.
Finding out how much you can “sell my mortgage notes” for is not a tedious, drawn out process. You can find out fairly quickly, so why not start today if you no longer want to carry the note or need cash now.
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Any given year, millions of people who are carrying private mortgage paper want to know the answer to the question: how do I sell my mortgage notes? Well, here’s what you need to know:
In the United States, a countless number of real estate transactions are conducted without the aid of a real estate agent, or even the involvement of a bank. Owner financing often allows the seller to get top dollar for their real estate because they are selling to a segment of the population who can’t or doesn’t want to get bank financing.
For people who sell their real estate by offering seller financing, therefore, it is often necessary to create a mortgage note.
The buyer of the real estate then will make payments to the seller who is carrying the mortgage note. The seller, in effect, becomes the bank.
Understandably, many note holders eventually want to sell their notes after it has seasoned.
There is a great deal of flexibility when it comes to selling a note, because you can sell it in its entirety or you can choose to sell only a portion of it to raise immediate cash and still continue to receive residual income on the rest.
How To Sell my Mortgage Note
The answer to the question: how do I sell my mortgage notes is simple. You need to find a reputable note buyer who has years of experience and knowledge and can explain to you how much you can get for your note.
The amount you can expect to receive will vary and be determined by your particular note. Some mortgage notes are inherently riskier than others. As such, a note buyer will offer different amounts of money for different notes because the note buyer is the one who then assumes the risk of default.
A competent professional note buyer should be able to help anyone who wants to “sell my mortgage note”. They should not charge you for discussing your note with you over the telephone. A phone call will serve as a discovery for the note buyer as he or she finds out details about your note.
You, in the process, will get to learn about how much you might expect to get for your particular note and decide if you want to go through with a sale.
For anyone who wants to sell my mortgage notes it’s important to remember that money today is always worth more than money tomorrow due to inflation.
In short, because of default risk and inflation, a note buyer must be able to purchase your note at enough of a discount to justify the declining purchasing power of the dollar over time and the chance the person paying on the mortgage note will default when weighed against the potential profit of the note.
Finding out how much you can “sell my mortgage notes” for is not a tedious, drawn out process. You can find out fairly quickly, so why not start today if you no longer want to carry the note or need cash now.
Website content
Nov
25
Why Banks Sell Non-performing Mortgage Notes and Bulk REO
Posted by: | CommentsJarrod Fennimore asked:
These non-performing assets are creating tremendous detrimental effects to the lenders, and ultimately the entire economy. The non-performing mortgage could impact the bank’s ability to borrow by roughly 900%. If $100,000 is in default, the bank is prohibited from borrowing up to $900,000 until the asset is divested. In addition, as an asset loses value, the banks must write down the value and take a loss.
Lenders face limited solutions to alleviate the impact of the non-performing assets on their books. The venue of last resort for the lender is foreclosure. This is a costly process for the lender that begins with heavy legal expenses. It also results in extensive property management while the asset is an REO (Real Estate Owned). There is increased risk of damage with REO properties while they sit vacant; increasing the risk of devaluing the asset further. Finally, there are the marketing and transaction expenses that come with selling any property.
A more discreet problem facing lenders is staffing. Even if a lender believes foreclosure to be the most viable option, it typically does not have the staff to manage and dispose of REO’s, especially mass quantities of REO’s. The last major lending crisis occurred approximately 15 years ago, and lending staffs have been depleted of REO expertise at the execution level. Moreover, there are few, if any, large lender-servicing companies in the United States with current in-house capability of handling a large portfolio of REO properties, managing them, providing security for the properties and disposing of them with minimal loss.
Presently, the course of lenders, servicing agencies and bond managers appears clear: Sell troubled loans at a steep discount as quickly as possible.
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These non-performing assets are creating tremendous detrimental effects to the lenders, and ultimately the entire economy. The non-performing mortgage could impact the bank’s ability to borrow by roughly 900%. If $100,000 is in default, the bank is prohibited from borrowing up to $900,000 until the asset is divested. In addition, as an asset loses value, the banks must write down the value and take a loss.
Lenders face limited solutions to alleviate the impact of the non-performing assets on their books. The venue of last resort for the lender is foreclosure. This is a costly process for the lender that begins with heavy legal expenses. It also results in extensive property management while the asset is an REO (Real Estate Owned). There is increased risk of damage with REO properties while they sit vacant; increasing the risk of devaluing the asset further. Finally, there are the marketing and transaction expenses that come with selling any property.
A more discreet problem facing lenders is staffing. Even if a lender believes foreclosure to be the most viable option, it typically does not have the staff to manage and dispose of REO’s, especially mass quantities of REO’s. The last major lending crisis occurred approximately 15 years ago, and lending staffs have been depleted of REO expertise at the execution level. Moreover, there are few, if any, large lender-servicing companies in the United States with current in-house capability of handling a large portfolio of REO properties, managing them, providing security for the properties and disposing of them with minimal loss.
Presently, the course of lenders, servicing agencies and bond managers appears clear: Sell troubled loans at a steep discount as quickly as possible.
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Nov
24
The Problems of Getting a Bank Account Nowadays
Posted by: | Comments
Michael Hanna asked:
In can be really hard for anyone to get a bank account in the UK nowadays. With the bank sometimes wanting two forms of ID, and a utility bill, and maybe even a reference, it can make things tough for some people to open up an account.
I moved to England, from Belfast, last year with a friend to start new jobs here. We both first of all needed to open bank accounts to deposit our wages into. For my friend it was really hard – because we rented our accommodation and the rent included bills, we didn’t have any utility bills in our name. There were other problems, but this was a main one – a stupid rule that discriminates against renters.
I say that it was really hard for my friend, but it was even more difficult for me. Because I have dual nationality and chose to travel on an Irish passport the banks would not take this as verification of my ID. So, even though I am a British citizen, unless I show a British passport the banks will not try to confirm my identification and turned me down straight for a bank account.
Although I was having more problems, my friend wasn’t able to open a bank account either. So here we were – two successful men in two good jobs, who just weren’t allowed to open a bank account in England because of a lot of red tape.
My friend got lucky – after a long time of stress and unhappy phone calls he went online and got a Barclays current account [http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=channelFWgroup&value=6320] online.
Me however, I gave up. I have to use my Ulster Bank account for my wages to be paid to me. Although I can use my bank card here to withdraw money here I am very limited to the services I can use from over here.
So, I ask what, kind of shambles is the British banking system that two British citizens can have such problems in simply opening an account?
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In can be really hard for anyone to get a bank account in the UK nowadays. With the bank sometimes wanting two forms of ID, and a utility bill, and maybe even a reference, it can make things tough for some people to open up an account.
I moved to England, from Belfast, last year with a friend to start new jobs here. We both first of all needed to open bank accounts to deposit our wages into. For my friend it was really hard – because we rented our accommodation and the rent included bills, we didn’t have any utility bills in our name. There were other problems, but this was a main one – a stupid rule that discriminates against renters.
I say that it was really hard for my friend, but it was even more difficult for me. Because I have dual nationality and chose to travel on an Irish passport the banks would not take this as verification of my ID. So, even though I am a British citizen, unless I show a British passport the banks will not try to confirm my identification and turned me down straight for a bank account.
Although I was having more problems, my friend wasn’t able to open a bank account either. So here we were – two successful men in two good jobs, who just weren’t allowed to open a bank account in England because of a lot of red tape.
My friend got lucky – after a long time of stress and unhappy phone calls he went online and got a Barclays current account [http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=channelFWgroup&value=6320] online.
Me however, I gave up. I have to use my Ulster Bank account for my wages to be paid to me. Although I can use my bank card here to withdraw money here I am very limited to the services I can use from over here.
So, I ask what, kind of shambles is the British banking system that two British citizens can have such problems in simply opening an account?
Create a video blog…instantly.
Nov
13
old bank notes : OLD MONEYS ANTIQUE BANKNOTES back in the day part 1
Posted by: | Commentsmeterdetecting asked:
old bank notes part 1 OLD MONEYS ANTIQUE BANKNOTES back in the day ten shilling notes british uk state of mississippi 100 coufedrests one dollar chines , apaxmao two and lots more
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