Are you a seller holding a mortgage? Perhaps you have a need for the money you have tied up in this mortgage note? Maybe smaller payments are not giving you the return you'd like? Holding a mortgage may seem like a good source of income, but if you only have one, it's possible that you aren't getting out of it what you need.
Well, you can sell that mortgage!
Sound strange? There are lenders out there who are looking to buy mortgages. This is a big business, and for a company holding many thousands of mortgages at the same time, it is a good source of income.
'Selling' your mortgage note can be a good decision, particularly if you need to have an immediate cash value out of the note. However, most organizations who are buying mortgages will not necessarily pay the full value of it. There may be other fees involved. And it's critical that you are working with a reputable mortgage buyer.
If you are in the market to sell a mortgage note, be sure to seek some financial advice. This is a legal transaction, and you want to make sure that you understand the impact to your personal finances, to your taxes, and to your return on investment.