You may have heard the terms home bridge loan and hard money loans before. They are often used interchangeably and go by a number of different names. Bridge loans sometimes go by the name bridge mortg…Read More
Sell Your Note for Cash
Quite frequently sellers of real estate will sell a property and end up with a note secured by a mortgage or deed of trust for a substantial portion of the sales price. Usually, the seller feels okay about the note for a period of time, but sooner or later discovers that the cash would be much more useful than a modest payment coming in monthly. Additionally, they will likely realize that the borrower ( the person they sold the property to in the first place) is not as reliable as they may have imagined during the sale negotiations.
Cash Is King
No matter the circumstance, cash is king, and if you can turn your note and a long string of payments into cash today, you would be ready to move on with other uses for the money.
With those funds, you may choose to make other investments, purchase another real estate, reduce debt (an investment in itself), fund your business, fund urgent needs like college funds for children or grandchildren, pay medical bills, buy a new car, remodel your home, you name it.
Some note holders find tax advantages in closing out a note in a particular year due to their tax situation — income levels for that year, offsetting losses for the gains locked up in the note, etc.
Lynx will happily consider the purchase of secured notes with any set of payment terms. Simply use an “Apply Online” button and fill out the project information sheet or give us a call. We will want to understand the particular terms of your note, see the evidence of security, payments made to date and any information you have in your file about the creditworthiness of the borrower. We will analyze the payment terms and risks and provide you with a quote to purchase your note. As a private mortgage company that specializes in loan assistance and lending, we are happy to help however we can.
We at Abbey Mortgage & Investments can make our offer usually within a day or so and fund the purchase within a few days or a week.