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Updated over 3 years ago,
First note payoff request
Hi All,
I'm relatively new to the world of note investing. I've bought 2 performing notes in my SDIRA. Just today I received noticed from my servicer that the borrower on one has requested payoff. The servicer needs my approval of the numbers. Everything seems inline with my records which is good.
My question though is, do I need to do anything else after this payoff? Or, do I just collect the money and I'm done? What is the process here?
Appreciate any help.
Thanks.
I'm relatively new to the world of note investing. I've bought 2 performing notes in my SDIRA. Just today I received noticed from my servicer that the borrower on one has requested payoff. The servicer needs my approval of the numbers. Everything seems inline with my records which is good.
My question though is, do I need to do anything else after this payoff? Or, do I just collect the money and I'm done? What is the process here?
Appreciate any help.
Thanks.