All Forum Posts by: Erick V.

What would happen if after you buy a NPN, the borrower decides to file for bankruptcy? What happens to you as the note holder? I assume if the borrower throws the property into the bankruptcy that it would go to the note holder but what if the judge grants the borrower to keep the property. What options do they give the borrower in regards to the note?

Thank you Doug. Do you think any Real Estate Attorney would know how to draft up such security agreement?

When you borrow money to purchase notes, how is that personal loan secured for the person lending the money. I have a person willing to lend me money to purchase npn but he wants to know how he's loan is secured since there is no deed yet. I know all about hard money lending for properties but not much on lending for notes.