Michael Soliz
-
When Buying Notes What Should My Criteria Include?
Real Estate Investors can purchase “Discounted Notes” or “Real Estate Paper”, secured by brick and mortor real estate, by buying any of the following: Newly Originated Notes, Performing Notes, Non Performing Notes, and Loan Pools easily on the internet.Generally, a note or mortgage note is created when a buyer, private seller or lender agree to payment arrangements to pay off the balance owed on a real estate transaction (think mortgate, land contract). The person receiving the payments can either wait on the expected payment each month or sell the note to someone else to get a larger payment sooner instead…
-
What Services Do A Specialty Loan Servicer Offer?
What’s a Specialty Loan Servicer and what Services do they offerIt’s a Loan Servicing Department that does servicing and collection. It’s a high touch loan department that is designed to optimize the returns on delinquent loans, pools and troubled loan portfolios. A specialty loan servicer is highly experienced in skip trace, collection, workout, repossession and property sales.What Type of Loans Do They Service?Residential LoansPrimeSub-PrimeFixedARMHELOC2nd MortgageCommercial Real EstatePrimeFixedARMConstructionLandManufactured HousingServicing begins as soon as the servicing department receives copies of the seller’s RESPA ‘goodbye’ letters listing the new company as the designated servicer. This quick start will also create a lead time…
-
Terms of Seller Financing and Qualifications
The real estate market is constantly changing and a huge issue confronting property sellers is the lack of buyer financing. This has led to a dramatic increase in Owner Financing, also known as Seller Carry Back. At this time, all properties are competing for qualified buyers. The standard belief of many real estate agents is to lower your price to sell. This will not solve the problem. The house that offers “make sense” owner financing is the one that will have buyers lined up.It’s no secret that Banks and lending institutions are overly conservative when it comes to their lending…
-
Key Players Needed On Your Team When Buying Notes
If you ask the coach on any successful championship team, what makes your team so good? He will normally mention everybody from the front office, to the physical trainers, the equipment manager, the players, the coaching staff and most of all the fans. You’ll never hear a coach just say that his star quarterback did it all. It’s the exact same thing when searching and buying notes. Your buying capacity along with a strong team that can dig deep and uncover any potential pitfalls will equal a winning team.Here is the list of your key players that will help you…
-
Discounted Note Buying, Selling & Closing Process
Thinking about buying or selling a Real Estate Note, Mortgage Note or Seller Financed Mortgage? It’s not that complicated. Note deals are quite simple. Most discounted notes can be easily be found, bought and sold online nowadays. It is common practice to do a complete note deal from start to finish online. For example, a person can list their note for sale just as easily as an investor can look for a note to buy on some of these note servicing and trading sites.When looking to buy mortgage notes, you should consider a online system that keeps all parties that…
