Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

157
Posts
121
Votes
Michael B.
  • Newbury Park, CA
121
Votes |
157
Posts

Good Loan Servicing Company - Please Help!!

Michael B.
  • Newbury Park, CA
Posted

Do you guys have a suggestion for a good loan servicing company that calculates their provision on a percentage rate and not a fixed rate per transaction? I am closing on 6 seller financed properties this month and the servicing company that I usually use charges 20 bucks per transaction. Since this is a package deal with one mortgagee I would prefer not to burn $43k over the life of the mortgage (30 years) just for loan servicing! There has to be a more cost effective solution. Also, on this transaction I can't work without a professional servicing company like I have done before, due to the dangerous wording in her promissory note and mortgage agreement. Especially the age of the mortgagee (76) and the potential loopholes that the wording in her note creates in regards to her heirs, make a it a must for me to have a servicer that facilitates the payment. I'm also sure the old lady won't be able to provide a 1098 lol. 

Do any of you guys know a good vendor for this? Thanks a lot!

Loading replies...