Selling Your Mortgage Note In Nationwide - 2 Examples
Here Are Some Examples Of How Wall Street Note Holders Can Get Creative In Turning Future Payments Into Cash Today. There are lots of different ways you can structure the sale of all or part of your note to help you get the cash you need on your terms.
Maybe you want all or most of your principal that is stuck in the note returned to you... but you still want to keep a hold of some of the future payments in this note as well for the added return over the term of the note.
Scenario:
- First position $100k private mortgage at 10% for 10 years
- 8 years remaining
- Monthly payments of $1,321.51
You can sell 43 payments to Wolf of Foreclosure for $39,777* in cash today, then you'd receive the mortgage back after those 43 payments... and you can continue to collect the remaining $43,609 on the note.
Your Benefit: You'll have immediate use of $39,777 in cash + you're not losing any principal (in fact still earning a positive return).
Maybe you are just ready to move on and regain control over the cash locked inside your note... and selling all of the remaining payments and being fully released from the burden of the administration of that note is the right fit for you.
Scenario:
- Second position $50k private mortgage note at 10% for 20 years
- 10 years remaining
- Monthly payments of $482.51
- Borrower has been late or missed payments
You can sell the remaining 120 payments to Wolf of Foreclosure for $35,424* in cash today and be completely rid of even having to think about that note or the payments being made ever again.
Your Benefit: You'll have immediate use of $35,424 in cash rather than waiting 10 years + the headaches of dealing with this flaky borrower are gone!
* The purchase amounts in the examples above are for illustration purposes only.
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