Sell Mortgage Note

Sell Mortgage Note: People who hold a mortgage note can sell them to mortgage note buyers in order to obtain a lump sum of cash. There are many reasons people choose to sell their mortgage note to a private investor. However, the most common is to obtain funds to pay off debt, medical expenses or college tuition. Investors who purchase the note will pay cash to the note holder and take over receiving monthly payments paid to the previous owner.

A mortgage note is a legal document connected to a mortgage loan. It documents the promise to repay money borrowed to purchase real estate. Also referred to as a promissory note, this document includes specific information regarding the amount of funds borrowed, interest rate and who is responsible for repayment.