I need your questions on Owner Financing & Real Estate Notes

[Collin Corrington]

Hey everyone!

I know that your time is valuable so I'll get right to the point. 

I need your advice!

I'm putting the finishing touches on a new course called "Stop Flipping, Stop Renting: Owner Finance your way to Financial Freedom", and want to make sure that I don't' leave anything out. 

So, will you let me know your biggest question(s) that you have about Owner Financing or Creating Real Estate Notes?  It could be anything...even if you think it's silly.

All you have to do is post your questions in the comments below.

In exchange for your advice, if you also message me your address, we'll send you a free copy of our book by the same name (available for first 25). 

Ok, here's the easy form:

What is your #1 question about Owner Financing or Creating Real Estate Notes?

[Dion DePaoli]

To address the above ideas:

1.  Quickest way to have borrower refinance and lender's who refiancne
A loan has a maturity date that is the only way to attempt to control the timing of a borrower needing to refinance.  A mortgagee can not otherwise force a borrower to refinance.

2.  There is more to a conventional refinance than simply payment history.  Foreclosure, bankruptcy and other credit will affect the borrower's ability to qualify for other credit, which would probably need to be better than that to which they have in order to incentivise a refinance.  

It would be wise to understand who you extend credit to and their ability to qualify for credit in the future if you plan on being taken out by a refinance event.  Additionally, you are required to abide by Ability To Repay rule.

3.  The clause is Due on Sale.  Not Due on Call.  Get your documents from an attorney in the state the subject property is located.

4.  If the trust owns the real property, yes.  if not, then the trust is acting as a lender.  

It is illegal to attempt to circumvent the borrower's right of redemption and foreclosure process when lending.