$650 per month income from Note on 3 Bedroom 2 Full Bath Home

[Alex Hamilton]

Mortgage Note is for $105,000.  Buyer paid $9,500 Down on "Note" dated September 4th 2015 leaving

a Balance of $95,000 with interest at 2.795 percent per annum beginning October 4, 2015 buyer has made monthly payments of $650.02 per month.

Note holder will transfer interest in paper plus this $25,000 in Equity for said $9,500, as current Appraised value of this Property is $120,000.

For more details, and arrange inspection of this property, log on to https://www.hamiltoninvestmentschdo.com or Phone (225)238-3923 or number indicated our Web Site 

[Bill Gulley]

Alex, let me help you a bit.

A note holder doesn't transfer equity in collateral, it's a lien, not ownership with a note and deed of trust.

Initially, a note buyer needs the rate, amortization period and current balance.

Now, the type of note, did interest change or is it fixed?

I assume you created this note out of a non-profit, who originated the note to determine the Dodd-Frank exemption. Did a RMLO originate the note with their seal on the note and deed of trust, this is important to the marketability of your note, even if you are exempt.

Who serviced the note and if you did, do you have an audit trail showing dates of deposits, otherwise, it's like a buyer is just taking a seller's word for it that they are current. This will improve the value of your note. 

Do you impound for taxes, insurance or other obligations?

Hopefully too, you have a written loan package showing the ability to pay and the underwriting aspects of the borrower, This should also increase the value of your not when underwritten properly.

They also need to know if this was a seller financed note, based on seller's equity funding the note or if it was a cash funded note. The rules for a note buyer will default to a cash funded note to their purchase price, this can effect foreclosure issues, the note buyer can't just move into the property from a collateral standpoint. Just explain the deal, not buyers can then do their own due diligence.

Good luck :)