Congratulations on selling your mortgage note! You’ve achieved a significant milestone in reaching your financial goals. As the sale is now complete, it’s crucial to understand the post-sale process and what to expect. Discover insights and guidance in this guide for a smooth transition in the process on selling your mortgage note.
Once we complete the sale of your mortgage note, you can expect to receive a lump sum payment. The payment will be made in full or in part, based on the terms of the sale.
comparing full vs. partial sales
If you sell the note in full, you will receive the largest lump sum payment through a non-recourse transaction that legally disconnects you from the note. This means that the new owner of the note assumes all responsibility for collecting payments from the borrower and managing the property.
On the other hand, if you sell the note in part, you will receive a smaller lump sum payment. However, you will continue to receive a percentage of the monthly income from the mortgage. As a result, you will remain actively involved in the note and may need to collaborate with the new owner to ensure the proper collection and distribution of payments.
In either case, the note holder can expect to receive a lump sum payment upfront. This monetizes the note and provides immediate financial benefit. It’s important to understand the terms of the sale and any ongoing responsibilities or obligations to ensure a smooth transition after the sale.
Work with I Buy Notes Now!
If you’re considering selling your mortgage note and need professional guidance to navigate the process, don’t hesitate to contact us. Our experienced team is ready to provide personalized advice and support. ensuring you make the best decision for your financial future. Reach out today for a no-obligation consultation.
