Performing note buying means purchasing existing mortgage notes, the debt instruments, where the borrower is current on payments, acquiring the right to receive those payments.
Log in to followTwo notes offered to me the same week and they split the room every time I describe them out loud. First: 41k balance on a 900 square foot house in a small town where the mill clo…
I've now looked at four notes where the pay history is spotless for a year and a half and the reason it's spotless is a modification that cut the payment. The seller's tape calls…
Two things in front of me and I only want to buy one note this year. Option one is a tape from a note broker. Eleven performing loans, seasoned bank paper, asking 72 to 84 of unpa…
I have room for one more note this quarter and two candidates that price to almost the same number, so the choice is really about which risk I want to hold for the next several ye…
Note on my desk, 9% coupon, amortizing on a 30 year schedule, balloon at month 84. Balance 118k, seasoning is 29 payments clean, I'm being quoted 74. At 74 the yield to the balloo…
I manage properties, so collecting money from people who live in houses is my whole week. When I started reading about performing notes my first thought was that I'd just take the…
Purchase agreement on a performing first came back with two clauses I keep rereading. One, the endorsement is in blank on an allonge, not endorsed specifically to me. Two, the ori…
Picked up a performing first where taxes and insurance are not escrowed. Borrower pays the county and the carrier direct, has for six years, no lapse I can find. 74k balance, 9.25…