Purchase of Private “Owner Carry-Back” – Notes from the Sale of a Residence
Private Mortgage Notes, also referreed to as, Owner Carry-Back Mortgages, are mortgage-backed promissory notes that are realized from a seller of a single family home, condominium, multi-family residence or other residential or commercial building providing some element of financing to the new purchaser of the dwelling at the time of contract closing. Private Mortgage Notes can be for the full amount of the mortgage on the sale (first position notes) or can be partial (second position notes) behind a traditional mortgage lender.
Our business has a contract agreement with an investor which is a buyer and broker of private mortgage notes. If you are the holder of a private mortgage note receiving monthly or quarterly payments and would like a lump sum of cash for any reason, then we can assist you. If you are the owner of a private mortgage note you can do any of the following combinations:
Sell a specified number of monthly payments.
Sell your balloon payment (if applicable).
Receive a lump sum of cash for a sale of your note.
Sell a percentage (such as one half) of your note.
We will provide you with a No Obligation Confidential Quote. To do this, please send us an email and will provide you a one page form requesting basic and essential information which will be provided to our underwriters.
A representative will contact you within 48 hours to begin processing your request.
Note: Real Estate Professionals: Owner carry-back mortgages can often provide the stimulus to consummate a transaction. Many sellers are reluctant to hold mortgage paper for lengthy periods of time. Before you structure your transaction, contact us regarding how to develop your private mortgage and make it attractive for resale at a later date if necessary.
