Seller financing can be a great way to get a house sold.

Seller financing can be a great way to get a house sold without
slashing the price. By recognizing the millions of people who can't
get traditional financing as potential buyers, resourceful property
sellers (and their real estate agents) can minimize their time
investment in getting a property sold. Even better, sellers who offer
financing can usually get a higher asking price for their property,
even in the slowest markets. Clearly this is a win-win situation.

Most home sellers never consider financing the buyer directly because
they are not aware of the benefits or don't fully understand how
creating a note works. Let's take a closer look at the advantages of
owner finance.

Three Advantages

Seller financing is very powerful when the market is slow or when
there are many similar houses on the market. Just listing the house as
"OWC" - Owner Will Carry - will make the house stand out and attract
more buyers. Because many individuals cannot get funding from a bank,
offering financing will open the doors to these prospective customers
as well, essentially significantly increasing the pool of potential
buyers. So, advantage #1 is MORE BUYERS.

Seller financing also brings the property seller another critical
advantage . the likelihood of selling for a higher price. Offering to
carry back a note will not only greatly increase the number of
potential buyers, but also bring a unique demographic of buyers who
are willing to pay more for a given property than the general
population. Advantage #2: MORE MONEY.

Additionally, when the property seller finances the buyer, they get to
act as "the bank". That means they could structure the deal to collect
interest. Over time, if the seller holds on to their note, this can
add up to tens of thousands of dollars in additional income. Advantage
#3: LONG TERM PROFIT.

The Seller's Strategy

Even when these benefits to "carryback" lending are made clear, many
sellers are still hesitant to offer financing because they are
entering unfamiliar territory. It's a natural, human response --
everyone is uncomfortable with new things.

For many property sellers, considering owner financing when they've
only dealt with buyers via traditional funding is definitely "thinking
outside the box". But once sellers understand the process, they are
likely to choose seller financing instead of the unattractive option
of cutting the listed price or waiting indefinitely for the "right
buyer".

A seller-financed real estate sale is simply a real estate transaction
where the seller acts as "the bank" or lending institution. The seller
sets the sales price, determines and accepts a down payment, and then
finances the remaining balance. The final step is the part that may
scare some sellers, but in actuality, it can be very simple. Here is
an example.

If the sales price is $100,000.00, and the buyer gives the seller
$10,000.00 cash (the agent's fee will be deducted from this down
payment), the seller will finance the balance of $90,000.00. The buyer
and seller would then agree to the terms, such as the interest rate
and the total term, and use an attorney to create the mortgage
document and close the deal. From that point on, the buyer sends the
seller monthly payments for the house he/she has just purchased.

Special Circumstances (and a Solution)

The whole process can really be that simple. But, there are some
substantial differences between a seller-financed deal and one that
relies on traditional bank funding.

First of all, the seller in this example does not receive a large,
one-time payment at the time of the sale. In fact, they will only
receive the down payment, and in some situations, most of that will go
towards paying the real estate agent's fee. On the other hand, the
seller will be receiving monthly payments at a decent interest rate,
but this income stream can't be used as a down payment for a new
house.

Since many home sellers are also looking to buy another property, the
seller will need to get enough at closing to pay their own down
payment. Without this payment, the seller's hands will be tied when
they look to purchase another house and need to have a substantial
amount of funds available. There is a common solution to this issue,
however.

The Solution

In order to get the money the seller needs from the loan they just
created, the seller could sell the monthly note payments to a
specialist buyer for a lump sum of cash. If the seller finds someone
willing to buy the payments, now they can "have their cake and eat it
too".

In summary.

Step one: Use the seller finance option to find unique customers
willing to buy the house at a higher price than would have been
possible otherwise and complete the real estate transaction quickly.

Step two: Decide on the terms of the deal and create the note.

Step three: If the property seller needs immediate cash to buy another
house or for any other reason, their new incoming payment stream can
be resold. The person who buys the future payments from the seller
will provide the funding to act as a down payment on a new house, and
every party involved in the deal comes out smiling.
Click on the link in our sidebar to contact us.

Mortgage Notes Trust Deeds and how to get a home loan with bad credit

Do you know why getting a loan with bad credit can be so difficult? The main reason is that most banks believe that if you default on your loans or credit card payments once you will do so again in the future. Not keeping up with your payments will damage your credit. However a lot of people have bad credit because of some circumstances outside their control where they had a choice of making their credit card payments for example or feeding their kids.

We all get into financial difficulties leading to a bad credit rating at some time in our lives. This happens for many reasons ranging from unemployment, divorce, serious illness or the death of a spouse. These are just a few of the many reasons why a persons credit score may be low for a short period of time in their lives.

Now at the present time there are a lot of people experiencing financial difficulties due to the economic downturn. They may need a loan to tide them over until the economy improves and jobs become available again. So how do you go about getting a loan with bad credit? It may not be as difficult as you think.

There are many sites online offering loans to people with bad credit. You may be looking to pay medical bills, replace your car or pay school fees. If so then are many bad credit loan resources available to you online. Or you may be looking to consolidate your debts which are also available through online lenders.

Now because there are so many people with bad credit who need finance and deserve a second chance, there are many financial institutions creating programs for people with poor credit. This gives them a chance to get the finance they need and rebuild their credit rating.

One way you can get the loan you need is to apply for a secured loan if you can provide some collateral. There are many lenders and especially credit unions that will offer secured loan with poor credit. These loans are usually secured by you home or some other real estate or collateral you may have available. This is also a good option if you are just looking to do is rebuild your credit score.

However if getting a loan with bad credit is the only option available to you, a secured loan is your best bet. If you have collateral it should be relatively easy to qualify. So getting bad credit loan is not impossible, you just need to your research and apply to the best programs that are available to you.

Mortgage Notes or Trust Deeds are one option. Email us for more information.

Should You Sell Your Property as a For Sale By Owner?

Thousands of homeowners ponder the question of whether or not to sell privately. This is a question that gets a lot of attention on the internet, and also spawns an enormous amount of erroneous information. Many people want to sell their own properties, but are afraid of "hidden" problems that may rise up to cost them money, or cause them grief. Fear is the number one reason that people are willing to pay a Realtor to sell their home. Unfortunately, this fear is often unfounded, and all too often promoted by someone with a vested interest in taking your money to sell your property.

For some time now, many articles that pretend to promote selling privately, while in actual fact, they are designed to discourage you from taking on this task.

Obviously, such articles do not come right out and say "Hey don't do it!", but instead they tell you all of the seemingly bad stuff that "could" happen if you dare try it. They paint such a grim picture of selling privately while "encouraging" the reader, that nobody would try it if they chose to follow the advice of such articles.

This article will cover, albeit briefly, the reasons that many people should, or should not sell on their own. I will try to dispel the immense amount of misinformation on the subject of selling privately, and in the end, hopefully, you'll be in a better position to choose for yourself whether or not to sell privately.

In my opinion, selling privately is not for everyone, but most people can do it easily enough, and succeed.

First some basics. You've probably heard the term FSBO. This acronym to describe the term For Sale By Owner.

First question. Do you need a license to sell privately? To the best of my knowledge, no license is required in any American state or Canadian province in order to sell property privately. In fact, your right to sell privately is protected by law.  I will suggest that you check with your lawyer.

I am not a lawyer and therefore cannot give you legal advice.  So check with your lawyer before you do anything.

How much time will it take to sell my property? I am NOT going to try and tell you how long it will take for you to find a buyer who will transact a sale. I will talk about the time it takes to market a property on your own in order to give you a sense of what sort of time commitment you'll need to make to do it correctly. The answer, surprisingly, is very little time, about an hour or two a day at most. In fact, once you've taken the time to set up your sale, which is something I will talk about in another article, it will take little or no time at all, unless you're showing your property to a prospective buyer.

What is the general process of selling a property privately? In many ways it's exactly the same as selling with a real estate agent. Here is the process of selling a property, privately or not. First, the property is advertised to let the public know that it's available for sale. Prospective buyers inquire about the property, ask questions, and arrange a viewing appointment. The prospective buyers come and see the property, sometimes more than once. If they like the property, they make an offer in writing on a legal form. You (or your agent) and they (or their agent) negotiate the terms of the offer, the price, and closing date. Then once everyone has agreed, and all parties have signed the offer, everything goes to the lawyers so they can do their stuff to effectively convey title, and exchange monies etc..

It seems pretty straight forward, and usually it is. First you'll have to market the property, show it to prospective buyers, and negotiate the terms of the sales agreement. Once the agreement has been signed by both the Seller and the Buyer, then your lawyer will do the rest for you. Also, don't forget to get contact information for the Buyer's lawyer. Your lawyer may need this information to begin the process with the other attorney.

More articles will follow.  One thing to consider when selling FSBO is to provide financing for the prospective buyer.  You can become the bank and take back the mortgage.  You can provide financing with a mortgage note or trust deed for a short period of time, then sell the note for cash.

Please read the articles on our blog for more information.  Click here to email us with your questions.

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Consolidate Your Debts

Are you facing difficulties in paying back the loans
because you have two or more pending debts? If your answer is yes, then
debt management is the solution for you. It is a process which
reorganizes your debts to more affordable repayments terms. It clubs
your multiple high interest unsecured loans, into a single loan with
lower interest rate.

Various financial aid consultants are
deployed by the lenders, who negotiate with your creditors on your
behalf. An expert from financial institute selected by you meets your
creditors and makes an arrangement after which, you just need to pay
certain amount to the institution and not directly to creditor. The
amount paid by you includes fee waivers and discounts on debts owed by
you. This service is also open for bad credit history holders. After
the loan consolidation, you just have to make a single monthly payment,
which covers for all the loans which get consolidated.

You can
ask for quotes from various lenders if you want to get this service.
The quotes are provided free of cost and they enable you to explore the
difference between costs of debt management options provided by
different loan providers. This management is offered to you keeping in
mind, your financial situation and credit status.

With the help
of a proper research about the financial institutes offering this
service, you can certainly spot competitive interest rates. With the
help of this management, you will no more have to face harassment from
different lenders, as you will only be dealing with a single loan
provider.

In order to strike the suitable deal, you can switch to
the Internet. With the help of on line mode, you can come across various
financial institutions and lenders providing you with this management.
You can make comparisons between different terms and conditions offered
by different lenders and then select a suitable deal.

Debt
management helps you to settle your scattered debts and multiple
financial obligations. It is an affordable way to deal with your debt
problems.

If you are holding a mortgage note, you can sell a mortgage note and get cash now.

If you have a mortgage note you can sell your mortgage note for cash now. We have buyers that want to purchase your mortgage note. We can close in 2-3 weeks. Click here to email us for more information.

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Bankruptcy or Foreclosure, Which Is The Best Option

In the past, "Foreclosure" and "Bankruptcy" were considered two of society's dirty words. Today these terms are viewed by many as relief from Financial Black holes that can not otherwise be escaped. In the current economy, inundated with bad mortgages, many of which stem from predatory lending practices, coupled with credit card debt spinning out of control, bankruptcy and the loss of ones home have become common place. For many homeowners, a decision needs to be made as to which of these terms is the lesser of two evils.

For homeowners whose debt has spun out of control, and whose income does not cover expenses, foreclosure and or bankruptcy are options that may be inevitable. However, which of these terms truly is the lesser of two evils?

Should a homeowner file for bankruptcy, they may be able to eliminate all of their credit card debt, medical bills, court ordered judgments and even electric and gas bills. With the assistance of a bankruptcy discharge, they may then be able to stay current on their mortgage. However, many people are even more concerned about their credit score. They may ask, "Will we be able to obtain future financing?"

Should a homeowner rather, opt for foreclosure, they will certainly loose their home, but do they really want to keep it in this market where the house may be worth far less then what is owed. If a homeowner opts to walk away from their house, they may own other investment property, and be able to live in a multi-family house, or they may simply want to rent and not deal with all the hassles of homeownership. "If something breaks, let someone else fix it, repair it, deal with this problem".

Neither option is an easy choice. A bankruptcy will remain on your credit for 10 years, while a foreclosure will only remain for 8 years, but many credit counselors report it has twice the negative impact on your credit score compared with a bankruptcy. It will be extremely difficult to obtain a new mortgage for many years after you have lost a home to foreclosure. Many homeowners may see foreclosure as a better option then simply obtaining the financial relief that the Bankruptcy Laws provide. What many do not realize is that a foreclosure may be even a darker mark on their credit then a bankruptcy. As a result, it may be even more difficult with a foreclosure on their record to obtain subsequent housing. Many mortgage lenders look at a foreclosure more seriously than they will a bankruptcy. As a result, a former homeowner may not qualify to rent the apartment or house they want, even though they may be able to afford it now that the mortgage obligation is gone.

One of the key factors to keep in mind is that when you file and receive a discharge of your debt in a bankruptcy, even if your credit score is lower, you are still a better candidate to receive future financing and in very short order. The reason is simple. After your bankruptcy discharge, you do not owe anything to anybody. Additionally, creditors realize that you can not file for a new bankruptcy for another eight (8) years, and as such can not walk away from any new debt that you may incur as a result of credit extended to you by a new creditor, be it landlord, credit card, or other financing option.

Now it should be pointed out that in many cases, you may be so far behind that a foreclosure is going to happen no matte what. If this is the case, it may be in your interest to file for bankruptcy right before the order. The reason is that if the bank sells the property for less then what is owed, the difference (commonly referred to as the deficiency) will be discharged. As a result, the bank will often sit on a foreclosure order for some time before they act upon it, so as to not loose more money. In the meantime, a homeowner can possibly short sell their house and move on with their life.

Based upon the foregoing, if you are facing a financial crisis that may end in either foreclosure or bankruptcy, consult an attorney to explore what your best option may be. The right decision may save you years of restricted credit in the future.

If you have a mortgage note you can sell your mortgage note for cash now. Click here to email us for more information.

Technorati Tags: mortgage notes, trust deeds, real estate, financial planning, fsbo, divorce, get cash now, mobile home, bankruptcy

Check Your Credit Score Before You Apply For A Mortgage

Bad credit or good credit, the process of obtaining a mortgage has changed. Even if you are simply trying to refinance your existing mortgage, you may be surprised at how different things are. Of course your credit score always played a significant role in determining what kind of loan you can apply for, but nobody could have predicted what you need in order to get a mortgage today.

in the past, banks were eager to lend money to people who were interested in buying a new home. They would barely look at your income and sell you loans that were more than you could afford - virtually regardless of your credit history. A credit score of around 680 points would have been considered good credit and allowed you to get preferred rates and the best plans.

Today, just a few months later, things have changed dramatically and it is nearly impossible to get a mortgage without excellent credit. The good news is that along with those changes, it has become increasingly easy to increase your credit score.

Before you try to get a new home loan, the very first step is to access your personal credit information to find out where you stand on the credit score scale. You can then use this information to remove the errors that are common to credit reports, quickly increase your score, and then get approved for the loan you need.

You can also think about owner financing with a mortgage note. Click here to contact us for more information.

Technorati Tags: mortgage notes, real estate, credit score, refinance, bankruptcy, financial planning, divorce, get cash now

Selling your Property in a Difficult Market

If you listen to the media hype, you're probably thinking that you need to hold onto your home until the economy bounces back; that you'll never offload your house in this market. While it's true that sellers in some regions are finding it tough to sell right now, there are still buyers out there looking for a home.

The first step you need to take to ensure a successful sale of your home is to hire a reputable listing agent. While many people try the For Sale by Owner route first, most discover that selling a home is time consuming, complicated, and requires more specialized knowledge than they have.

Many homeowners who try to sell their home on their own become overwhelmed with trying to market their property to buyers. After all, it takes more than a yard sign and a couple of balloons to attract large numbers of viable buyers.

A good real estate agent will organize and host open houses for you, taking care of the scheduling, showing buyers around, and answering their questions. For these events, they will likely create professional brochures or fliers that feature the listing details of your home, as well as highlight the property's best features. This gives buyers something to bring home with them, and will make a positive impression.

In addition to traditional marketing methods like open houses, today's agents will also develop a solid advertising campaign for the internet. With over 80% of buyers starting their home search on the web, listing your home on the Multiple Listing Service and on other reputable websites is an important step in getting your home noticed. Thousands of agents and potential buyers will be able to access details and photos of your home from the comfort of their living room.

Having a web savvy agent is absolutely vital in this market, but you also want an agent who has been in the industry for a few years-particularly one who has experienced the ups and downs of the housing market. He or she will be able to provide insight and practical advice about how best to go about getting your home sold in a difficult market.

With your listing price set and marketing campaigns in place, a realtor will also help you negotiate with buyers to get the best price possible. Agents are trained and skilled in the art of negotiation, and will make the entire transaction much smoother for everyone.

Successful sales are possible even in slow markets like this one, but it's important to have an ally with know-how to guide you along the way.

Do not forget about seller financing with a mortgage note. We can help you with selling a mortgage note or creating one to take back financing. 

email for more information or visit our blog

Technorati Tags: mortgage notes, real estate, divorce, bankruptcy, financial planning, mortgage, refinance, fsbo

How to make sure you get the highest price for your mortgage note.

How to make sure you get the highest price for your mortgage note.

1. Buyer's credit.
   The better the credit rating of the buyers, the more valuable your note.
   1. If they are a husband and wife, find out the credit rating of both of them. many time the wife is earning more than the husband.
   2. If you don't have a credit report, you can order a free report from us.
2. Sale price of real estate.
   If this is MORE than the actual value of the real estate expect to take a bigger discount when you sell the note. An experienced note buyer wants to have some equity in the property in case the buyer defaults.
3. Third party buyer.
   If you sell to a family member or friend you WILL have difficulty collecting your payments.
4. Actual, provable value of the real estate.
   If you are taking back a first mortgage note there is no legal reason to have an appraisal. But if you intend to SELL the note, any experienced note buyer will want to know what the property is worth. It may be harder to access the property and have an appraisal done after you close on the sale.
   
5. Loan to Value ratio. LTV.
   For a note to be marketable the total LTV, that is including the first and second mortgage (if any) should be no more than 75% of the actual value of the property. However, if the buyer's credit is good, this 75% could refer to the Investment to Value or ITV. In other words, the amount the note buyer is investing in the note. Thus if the property is worth $100,000 and the buyer has put down a 10% payment and has a $90,000 mortgage, you could get $75,000 (75% of the value) for your note.
6. Who are the buyers?
   If the buyers are husband and wife they BOTH need to sign the note. If the buyer is a corporation, trust or LLC then make sure the principals also PERSONALLY sign the note. If they refuse to do so this could be an indication they will let the note default if the deal doesn't work out for them. Of of, this need not apply if the buyer is a substantial corporation. (I wouldn't ask Bill Gates to personally sign on a note from Microsoft. :-) But how about a note from WorldCom or Enron?) If the borrower is NOT a substantial corporation then the note could be either unsaleable or only saleable at a much larger discount to reflect the lack of personal liability.
7. Seasoning, aging.
   There is no doubt that a seasoned note, where the buyers have made payments for a year or more, is easier to sell and will get a higher price  than a new one. But of course you won't have this option if you want to do a simultaneous closing.
8. Institutional lender allows secondary financing.
   There are many institutional lenders, banks etc. that will not allow secondary financing behind their note. Why not? After all, their lien is senior anyway. One answer is simply that they do not want to the borrower to be stretched to make their payments. Also they would sooner the buyer put down more cash or pay for mortgage insurance (a fancy way of saying a higher interest rate.)
9. Loan properly secured.
   If your mortgage is a second mortgage, it should be a properly recorded mortgage or deed of trust to comply with your local laws. Any documentary and intangible taxes should be paid. Without this the mortgage may be unenforceable.
10. Title insurance.
    You should have proper mortgagee's title insurance.
11. Rights with respect to first mortgage, if you hold a second.
    If you are holding a second mortgage it should contain language to the effect that a default on the first mortgage is a default on the second. Also that you, as second mortgage holder have the right to check on the payment status of the first.
    
12. Interest rate.
    Other things being equal, the higher the interest rate, the higher the price you will receive. But be aware of laws concerning Usury and Predatory lending. A below market interest rate will demand a hefty discount to be saleable.
    
13. Length of note to short.
    Typically it is hard to sell a note with a short balloon, or a balloon due in just 6-12 months. The note buyer will be concerned that the borrower won't be able to refinance and pay them off.
    But a loan with for example, 3-5 years to run, and a 30-year amortization is going to be saleable, other things being equal.
14. Length of note too long.
    The note buyer won't usually want to wait 30 years to get paid off, but these notes can often be sold to institutional note buyers.

Email us with your questions
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Mortgage Note Buyers Helping You Get The Most Money For Selling Your Mortgage Note

All mortgage note holders want to know more about selling their mortgage note. Don't you?

Well, the popular way to get a lump sum of cash for your future payments is by using a mortgage note buyer.
Most people don't realize they have different creative options when using a contract buyer that can keep them from getting the most money for their owner-financed mortgage note.

It may seem scary or challenging, but truly it is not, unless you do not know the answer to this question.

Can I receive cash now and still hold part of the note? In other words, do I have to sell all of my note at once?

At first glance, this may seem obvious that this is the best choice because it will get you the most money up front. For some people, it is. When it comes down to it, it is up to you and your needs. If you need or want a large all cash payment and want to be out of the deal, rid of headaches and worries of a default buyer, avoid destruction of property, taxes and insurance, and would like a larger sum of money now instead of collecting small monthly checks, then a full sale is best.

But let 's take a look at some more needs. If you are just looking to get a
larger down or some money to take care of some immediate needs or
pleasures, then a partial payment may be better. Maybe you just want to
lessen the amount of strain or burden of carrying the note and would like to sell just a portion of each monthly payment. Then a split payment option will be better for you. (This way you can go on vacation, consolidate debt buy a new car...)

What is a partial? A partial is the purchase of a portion of an income streams remaining payments, or a purchase of a portion of a specific payment, or any combination thereof.

There are many times when this may make sense. Let 's say that you have a new note and it has not been seasoned (length of time that a note has been in place and paid on), it has little or no down payment, and has poor credit by the payer. In this case, it would be better to sell only part of the future payments. It will get you more money in the long run because the mortgage note buyer would have less risk should the buyer default on the note. Then after the note has experienced seasoning you could sale the rest of the payments at a much higher percentage.

Let 's look at an example of this:
Sales price: $100,000
Down payment: $5,000
Original note balance: $95,000
Payers credit: poor
Seasoning: 1 month
Appraised property value: $100,000
Term: 360 months
Interest: 10%
Remaining payments: 359

This is a low quality note because the buyer is not putting much money down,
the pay back period is very long, and the buyer 's credit is bad. But you could still make out like a bandit by selling it as a partial. Let 's say you sold the first 120 payments (10 years) for $51,000. After the 120th payment, the contract would be returned back to you. The balance owed to you would be $86,391.12. You would then start to collect the payments from then on. Let 's see how this looks.

Sales price: $100,000
Down payment: $5,000
Original note balance: $95,000
Contract written for 30 years @ 10%
Monthly payment: $833.69
Note buyer purchases first 120 payments for: $51,000
Total cash to home seller $56,000
(down payment + cash from note buyer)
After 120 payments contract is returned to you with a balance of $86,391.12

Total money to you: $142,391.12 (including interest). Not shabby for a house that sold for $100,000.

So, what is a Split?

A split is a purchase of a specified monthly amount. If you're getting to the point where you would like to enjoy some of the finer things in life, while still receiving a good monthly income, then a split payment is a great choice for you.

For example, if the monthly payment on a seller-financed note is $1,000, we could purchase $200, $500, $750, etc. of the monthly payment. This will allow you to get cash now and then still collect a monthly income from the note.

All in all, each situation is different and may need to be tailored differently to meet your needs. I can't say exactly what you will get for your individual situation, but I can say that you should walk away happy. Selling your mortgage note should be much easier and more profitable now that you are armed with some creative options.

Get a free quote email us at quote@smilingdogenterprises.com
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Technorati Tags: mortgage notes, trust deeds, real estate notes, mortgages, fsbo, for sale by owner, money, mobile home paper, cash flows, commercial real estate, finance, financial-planning, financial planning, annuities, sell mortgage notes, buy mortgage notes, real estate funding,

Mortgage Note Questions - How To Sell Your Mortgage Note

When it comes to selling real estate, one of the biggest obstacles  sellers face is a so-called “depressed” market. Even when a property  is highly desirable, it can be hard to get the price you want in  this real estate environment. You could end up losing a lot of time,  money, and opportunities, waiting for a “perfect buyer” who may  NEVER materialize!
The traditional solution is to drop your asking price. But this  common strategy doesn’t always work in your favor. In fact, it can  work against you, making your home seem undesirable and your  position seem weak.

But there IS a way to turn this challenge into a profitable  opportunity!  I am not selling anything. I am in the business of paying cash for  mortgage notes and trust deeds.

Keep in mind that it has to make financial sense. Although having regular income is a nice idea, there comes a time when you might need a lump sum of cash for an investment, a large purchase or just to pay.

A cash flow notes statement documents the amount of incoming and outgoing cash and its equivalents. Only cash sales are recorded in a cash flow statement – all future sales including those made on credit are not declared.

 Most banks refuse to accept a short sale or modify the terms of a mortgage unless the owners are numerous months behind in payments. The homeowners come to the bank to ask for help to avoid foreclosure. Individuals sell structured settlements to get liquid cash. They can be sold to special financial institutions. The main advantage of selling structured settlements.

In situations where you are holding the sell mortgage notes and receiving payments from the sale of commercial and residential real estate, and you are want to cash in on those payments, there are service agents who provide help. This technique has been the key in making up an estimated 20% of all private note sales.

Right now, thousands of people across North America are stuck with investments that they don’t want. They would rather have the cash now! Whether it’s a real estate note created when selling a property, a business note created when selling a business or even a structured settlement, there are thousands of notes out there that could be turned into cash!

Get cash now and forget those monthly payments FOREVER! We work with buyers who are ready to pay top dollar for your notes. If you have a trust deed, a mortgage note or any private loan, it's time to find out exactly how much CASH you could be entitled to.

    * It's Quick: Learn how to cash out in minutes
    * It's Easy: You could have cash in just days
    * It's Secure: Get real quotes directly from certified buyers

There has never been an easier or faster way to cash out of your investment. Whether you need money to pay bills... to buy a home... to fund an education... or even if you just need some spending cash... We'll show you the money for your mortgage note or trust deed!

http://www.smilingdogenterprises.com
getcashnow@smilingdogenterprises.com

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Selling a Mortgage Note or Trust Deed

If you have recently sold property and financed the buyer by taking back a mortgage or deed of trust, you own a Mortgage Note. You will be collecting monthly payments for years to come. But what is that worth in dollars today, and how can you get your money ahead of time?  This is called the time value of money.

If you need a lump sum of cash now, you can sell your mortgage note to a third party wanting a regular payment stream as an investment. There are many companies out there that will buy your
mortgage, discounting the payments for the remainder of the loan back to present day dollars.

Keep in mind that the interest rate that will be used to calculate what today's dollars are worth will be different than the interest rate on the mortgage note. Why is this? Well the investor most likely will want a different interest rate than what the mortgage note is for based on current rates.
For example, if the interest rate on your mortgage note is 6%, but the average rate in the market is 8%, why would an investor agree to 6%. He would still be getting the 6% on the face of the note, but by paying less than the present value at 6%, he makes up the additional 2% up front.

One last thing to keep in mind is that the higher the discount rate that a buyer uses, the smaller the
lump sum payment will be. This also works in reverse - if the note says 8% and the current rate is 6%, an investor will pay a premium to buy that payment stream.

We buy mortgage notes and trust deeds.  For more information click here.

Smiling Dog Enterprises

Five Steps to Improve Your Credit

For many, improving credit is an important step towards a chance at some of the most important aspects of everyday life. Good credit is vital if you want to own a good car, a good house, or any other major purchase. Like millions of people in America, you might have a few issues with your credit report; here are a few hot tips that can lead to improvement:

Step One: One of the best things you can do in your efforts to improve your credit is to learn your rights. Laws protect you as a consumer, and thus your credit score as well. You need to be familiar with those laws and your rights to improve that score. Policies of all sorts are in place that regulate everything from criteria regarding rejection to the ways a collection agency is allowed to go after late payments. If you're unaware of your rights, you'll find it difficult to insist on the proper steps that are in place to help you. Confusion is the enemy.

Step Two: The three major credit bureaus (TransUnion, Experian and Equifax) are required to provide you with a free copy of your credit report once a year, at your request.

Step Three: Once you have the credit report in-hand, go over it in miniscule detail. File a report for each and every negative item immediately. Any negative item must be investigated by the bureau: if they don't verify it within 30 to 45 days, the item must be removed! There are many reasons creditors refuse to verify information, which is great news for anyone trying to improve their credit. Better still, file your disputes when the credit business is busiest to help ensure there's less chance of verification.

Step Four: For certainty's sake, send every dispute form by certified mail (which only costs a few dollars extra) and request return-receipt. Make sure your records are extremely detailed, covering dates, times, names, every single minor step along the way. You want this process to be rife with delays and it will only help if you can make yourself as difficult as possible for them to deal with. Just one person failing in the verification-chain on their end, that's all it will take to get the negative mark cleared off your record.

Step Five: 30 to 45 days after you've sent in your dispute, get another copy of your report. Pay for it this time if you have to! Review it from top to bottom and start making phone calls about why unverified information hasn't been removed; it had plenty of time, after all. Dispute anything that remains, over and over and over again, until they get tired of dealing with you. Don't give up, because the reward for your persistence is an improved credit score!

In truth, it isn't difficult to improve your credit score, not really. It's as easy as getting your report, disputing everything negative, and repeating those steps until you get the results you want. Pay attention to every little detail and keep strict records, and you'll be well on your way to the better score that you want.

Foreclosure vs Bankruptcy effects on Credit Reports

Nothing is worse for your credit score than a foreclosure or a bankruptcy credit report. Not only will these red flags remain on your credit record for seven years, but your score could drop as much as 300 points overnight, impacting your ability to borrow money for years. Your credit report will show every time you’re 30 days late on a mortgage payment and then the “Notice of Default” will show up. If you are able to stop the house from foreclosing, then you’ll have a good chance at repairing your credit over the next few years. Otherwise, the “Notice of Trust Sale” and the “Trust Deed Sale” will hit your report, scarring your financial freedom for the next seven years or more.

Once you’ve looked at your credit report, you’ll need to focus on improving your credit score. Pay all your outstanding bills on time, first and foremost. On-time bill payments account for roughly 35% of your credit score. Start with the highest interest rate cards and reduce your credit usage to 30% of what’s been extended to you. Replenish your savings, your 401k and other retirement accounts. You may want to contact CCSInc.org to obtain credit counseling and take free financial classes to re-educate yourself on how to save and spend wisely. A foreclosure can really shatter your confidence, as well as your purchasing power, so it’s important that you take this opportunity to reassess how you approach financial decision making as a whole.

So which is worse for your credit score, a foreclosure or a bankruptcy? Even though bankruptcy stays on your credit for 10 years and a foreclosure for 7, “a foreclosure is very serious to mortgage lenders,” said Ray Hooper, Education and Housing Director for the Consumer Credit Counseling Service. “They’re going look at a foreclosure more seriously than they will a bankruptcy that doesn’t include the house.” Hooper says if you’re receiving default notices but still want to keep your house, then you’ll need to catch up on those missed payments.

How to Get More Than The Asking Price For Your Property

Part 4 of 4
How Creative Home Sellers Have The Advantage
Creative home sellers offering seller financing can often sell their houses faster in a slow market - often at a higher price! In the process, these sellers act as the “bank,” and begin to receive monthly payments instead of a lump sum of cash.
So what happens when those offering seller financing need an immediate lump sum of cash instead of scheduled future payments? Locating a buyer for the newly-created cash flow could be the answer.
To get the money they need, sellers that offer financing could sell the future mortgage payments they are set to receive.
How sellers get quick cash for their notes
This process can be streamlined when the savvy home seller lines up a buyer for the payment stream before the note is even created. This way the property seller could have a buyer for the payment stream ready to make the purchase as soon as the new private mortgage is created. Once the closing and the note sale are complete the seller will have the money she needs for her next home.

Finding the buyer for the seller-financed mortgage is the tricky part. Buyers won't line up at the door. In fact, they don't often browse the newspaper or the web looking for people with notes to sell. This is where the professional Note finder comes in!

Note Finders are real estate professionals that specialize in connecting the people who create notes with those who buy them.

While I do not assist with the creation of a note, I can provide general recommendations about the types of terms that are attractive to Note Buyers. With my knowledge, experience, and connections within the secondary finance industry, I can save home sellers a lot of time and effort when liquidating a note. Most importantly, I can help locate a buyer for your note and make the process smooth and easy.

When working with a property seller who needs a lump sum of cash immediately after selling real estate, contacting a finder like me early in the process of creating the real estate note makes sense.

By involving a Note finder before a note is created, the property seller can receive valuable input about the payment characteristics that Note Buyers prefer.

And for any completed seller-financed deals, a qualified Note finder can help Note Holders obtain a large amount of cash in exchange for future payments.

Greetings,
My name is Sydney Griecci. As a professional note finder, I specialize in developing creative cash solutions; namely, I help note holders receive a lump sum of money in exchange for their secured real estate notes. I can also show home owners how to sell their property with seller finance.
Once a real estate note is created, it can be sold for cash shortly after the close of escrow. Existing notes can also be sold to achieve cash liquidity.
Additionally, if you are looking to purchase a paper asset for your own portfolio, I have the resources to show you many viable opportunities.
If you are an attorney, CPA, real estate agent, mortgage broker, title agent or escrow officer, I can assist you in helping your clients realize quick sales of hard-to-sell properties through the use of private financing.
If you would like to learn more about the creation and/or sale of secured private notes, please contact me directly.
Join my mailing list or subscribe to this publication by leaving me your contact information. I can be reached via email
Sincerely,
Sydney Griecci
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We buy Mortgage Notes

How to Get More Than The Asking Price For Your Property

Part 2 of 4

Equity attracts Note Buyers
One key to liquidating a seller-financed mortgage is found in the property’s equity. The equity in the private note essentially acts as a “safety net” for the Note Buyer, in case there is a problem collecting the payments. So note buyers find deals with strong equity more attractive.
Remember, a Note Buyer is purchasing monthly payments secured by property. If the property is worth more than the remaining balance of the note, the buyer could seize the extra value in a foreclosure situation by reselling the property. This allows the new Note Holder to recoup his initial outlay and receive the additional equity.
Most Note Buyers will do a quick equity check before looking at any other information. By first determining the note’s Loan-To-Value (LTV), buyers can decide whether to dig deeper or move on. The LTV is calculated by comparing the balance of all of the loans to the value of the property.
Two equity examples
To illustrate, let’s consider two houses, each valued at $100,000. One home has loans of $95,000 and the second home has loans of $70,000.
The first home has an LTV of 95 percent (95k/100k = 95), indicating only 5 percent equity (100 – 95 = 5).
The second home has an LTV of 70 percent (70k/100k = 70), showing 30 percent equity in the property (100 – 70 = 30).
Clearly, most buyers will not be as interested in the note on the first home because there is virtually no protective equity. In this situation, the buyer of the note would want to discount the note purchase a fair amount to make up for the fact that there is little equity.
The second note with 70 percent LTV will require less discounting, and the Note Holder will receive a larger portion of their note as compared to the note balance. This is because the Note Buyer stands to benefit from holding a substantial amount of equity in the property (30 percent) if the Payor were to default on their obligation.

Join my mailing list or subscribe to this publication by leaving me your contact information. I can be reached at 303.317.4488 or via email at sydney@smilingdogenterprises.com.

Sincerely,
Sydney Griecci
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Selling Property with a Land Trust or Mortgage Note!

In many cases, home buyers are in a financial position to afford the monthly payments associated with home ownership, but they lack the down payment necessary to purchase a home. Or the buyer's credit score or rating may prevent him or her from obtaining the traditional bank or mortgage company financing required for the purchase of a home. When this is the case, it often makes sense for the buyers to consider purchasing a home or piece of real estate and have the owner/seller provide the financing for the purchase - called a Land Contract or Contract for Deed.

Likewise, selling a home by way a land contract can prove beneficial to the seller in many ways. Selling property with a land contract can provide a quicker and more inexpensive way for the property owner to sell the property - the seller does not need to comply with the often rigid and tedious guidelines of bank financing and the delays that often accompany those guidelines. Likewise, real property sold on a land contract can often be priced higher than sales with bank financing since the seller provides the all-important financing and the buyer is often times not required to come up with a large down-payment, thereby permitting a higher asking price for the property.

So how does a land contract work?

Land contracts are common throughout the United States. In some states, they are called Trust Deeds, Contract for Deed, Deeds of Trust, Notes, or (privately held) Mortgages, but they all represent the same thing: a way of selling property where the buyer "borrows" from or relies upon the seller for the financing rather than paying cash up front or borrowing from a bank.

The process is generally as follows:

The seller and buyer enter into a contract that normally states that the seller shall transfer ownership of the property to the after the buyer has fully paid the seller the agreed upon purchase price. In most cases, the contract requires the buyer to make a modest down payment and then to make monthly payments over time. The land contract can require the buyer to pay the seller interest on the money owed (just like a bank would). Also, because the buyer and seller privately negotiate and reach their own sales terms, the contract can also call for smaller monthly payments - beneficial to the buyer - and then a balloon payment to be made at some certain period of time; this balloon or lump sum payment will pay the balance of the purchase price for the property.

During the term of the land contract (i.e. while the contract is in force and effect, the buyer is not in default and until all of the payments are made), the buyer holds legal possession of and occupies the property. The land contract can call for transfer of the property once the seller has received all of the required payments or can call for the transfer at some time sooner, with the seller then holding a mortgage on the property to ensure that the balance of the purchase price will be paid in full. Whatever the terms agreed upon for transferring ownership, when the agreed upon transfer date is reached, the seller tenders (or gives) a deed to the property to the buyer who then records the deed in the county recorders office or the real property office of the county where the property is located.

While the benefits of land contracts are many, there are some potential pitfalls to a land contract that the parties must be aware.

If the buyer misses any payment under the land contract, he or she may lose the property (the right to have the deed transferred to him) and the seller may keep the money paid up to that point as rent. Thereafter, the seller would not be required to transfer the deed to the buyer.

Some states have laws providing that if a buyer makes a majority of the payments under a land contract (which cover a large percentage of a purchase price of the property), the seller may not be able to keep or refuse to transfer the deed if the buyer can make payments on the contract price at a later date (known as the right of redemption). Your state laws should be reviewed.

A disadvantage for the buyer can be found when the seller has a mortgage on the property that the buyer is purchasing and the seller does not payoff existing mortgages by the time the buyer pays the entire purchase price - thereby causing the property to subject to foreclosure. The buyer should determine whether or not any mortgages exist on the property being purchased and then require the seller to pay off all mortgages prior to the final payment being made - but if the seller does not, the buyer should be aware that he or she may be required to pay off the mortgages.

We Buy and Sell Mortgage Note or Land Trusts. Contact us for more information information@smilingdogenterprises.com

List your note at Smiling Dog Enterprises

Sell your Mortgage Note or Trust Deed

Click on this link to sell your mortgage note or trust deed.
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Sell Your Note

The Note Service provides a unique link between people with notes to sell and the qualified investors who buy them. When you list your real estate notes below you could receive real offers quickly from some of the industry's top buyers.

Providing you with a direct link to qualified buyers, the Note Service encourages quick responses, competitive bids and industry leading service.

Simply agree to the terms and conditions below to post your note.

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Trust Deeds and Mortgage Notes

Future Payments or Cash Now...

Creative home sellers who offer seller financing to potential buyers can often sell their houses more quickly (and at a higher price) in a slow market.

While applying seller financing techniques isn't more difficult than traditional real estate sales, it is important to recognize that the buyers looking for seller financing represent a different target market than typical bank-financed customers.

Similarly, the process for obtaining a large cash payment for the seller after a note is created varies from the conventional real estate closing technique as well.

Fulfilling a Seller's Need for Cash

In some seller-financed real estate situations, the property owner may have an immediate need for more cash than is available from the scheduled principal and interest payments. This situation often comes about when the seller needs to have enough money to use as a down payment for their next real estate purchase.

In order to quickly obtain a large proportion of the money due from the loan they just created, the seller could sell the monthly note payments to a buyer for a lump sum of cash. By locating someone willing to buy the note payments, the seller will have ready cash for a down payment or any other pressing financial need.

In order to streamline the seller finance sale situation, it is advisable to have potential buyers for the newly-created cash flow at the ready. A seller can start looking for buyers before the note is created, or even before a seller-financed buyer is "lined up". This way, the property seller could have a buyer for the payment stream ready to make the purchase as soon as the new private mortgage is created.

Locating the Right Note Buyer

But what is the best method to find these note buyers? In stark contrast to locating seller-finance buyers for the real estate itself, a classified ad in the paper is not the best option. Most people looking to purchase a stream of monthly payments do not look in the newspaper for potential cash flows to add to their portfolios. An alternate marketing strategy is required for finding note buyers.

In recent years, the Internet has become the best place to find cash flow purchasers. Using keywords such as "buy monthly payments" or "buy mortgage payments" at a popular search engine website should lead to many interested buyers.

Sometimes there are so many potential buyers, it can be difficult to figure out where to start. Also, cash flow buyers tend to have distinctly different financial parameters; an opportunity that meets the needs of one person perfectly may not be attractive at all to another. Therefore, it is often best to work with someone who could give the seller a general idea about how notes should be structured.

Using Note Finders...

In the secondary finance industry, a unique group of individuals exists who specialize in locating note buyers. These cash flow specialists - often known simply as "finders" - have a unique understanding of what most buyers are looking for. These finders are happy to work with agents and their clients. Many of them utilize online marketing and have Internet websites to facilitate the buyer location process.

The best of the bunch also look in the newspaper for property sellers offering financing, so sometimes a good finder will contact the seller if their property is advertised as FSBO. Finders specialize in helping property sellers locate buyers for secured notes.

Once in contact with a finder, the seller should explain the details of the situation. While note finders won.t be able to offer any legal advice or assist with the creation of a note, they are qualified to give general recommendations about what types of terms are attractive to note purchasers. Most importantly, note finders will be able to help locate a buyer for a newly-created cash flow.

Remember, these finders are not note brokers, meaning they will not "show" the seller's note to buyers or act as a representative. They will only pass the information along to someone who would be interested. Once a commitment to purchase the cash flow has been established, the buyer will step in and complete the deal.

When working with a property seller who needs a lump sum of cash immediately after selling their real estate, contacting a finder early in the process of creating a real estate note makes sense. By involving a qualified note finder BEFORE a note is created, the property seller can receive invaluable input about the payment characteristics that note buyers prefer.

Without this knowledge, the property could sell quickly with the creation of a new note, but the seller might end up collecting the payments long-term instead of being able to quickly "trade" the future payments for an upfront cash settlement. If the property seller will need a large amount of cash quickly, it makes sense to plan ahead for a buyer to purchase the cash flow and involve the services of a note finder.

I buy trust deeds and mortgage notes!
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Get cash now for your mortgage notes and trust deeds!

Get cash now and forget those monthly payments FOREVER! We work with buyers who are ready to pay top dollar for your notes. If you have a trust deed, a mortgage note or any private loan, it's time to find out exactly how much CASH you could be entitled to.

• It's Quick: Learn how to cash out in minutes
• It's Easy: You could have cash in just days
• It's Secure: Get real quotes directly from certified buyers

There has never been an easier or faster way to cash out of your investment. Whether you need money to pay bills... to buy a home... to fund an education... or even if you just need some spending cash... We'll show you the money!
Smiling Dog Enterprises
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