Mortgage Note Buyer Since "1982"
Absolute Top Dollar for Your Note; Nationwide Buyer Call 605-229-9795

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The buyer has the same payoff balance they originally agreed to, the investor earned a good rate of return; the note seller received the cash he needed now plus the balance when the note was paid off. 


In the event of a default or foreclosure, the scenario is identical with one caveat. The investor will make "best effort" to service and collect the account. In the event the investor is unable to collect the payments the note seller will be contacted and given numerous opportunities to "step in" to assist in collecting the payments.


Remember: it is still your note, you are in 1st place, the investor has an "assignment" but like any other lender (mortgage, auto or otherwise) we never want the collateral. The real estate is merely the security to assure repayment. We don't want the real estate; we want the payments that we purchased. 


So what are your options? 


·         Payoff the outstanding balance on the partial purchase and the note will be re-conveyed to you; allowing you to renegotiate the loan or handle the foreclosure in the normal fashion as though you had not done the partial purchase.  


·         Assist us in working with the defaulted payor; "cash for keys" or any other easy method of getting the homeowner out of the property so it can be cleaned up and resold. 


·         Make the payments on behalf of the payor and YOU handle the foreclosure; cleanup, repair and resell the property possibly at a profit. The investor receives the small payoff on the partial, you keep everything above that. 


The possibilities are too numerous to consider, but again; remember we never want the real estate.


In the event the note seller does not wish to exercise any options to mitigate the situation the investor will foreclose; the property will be sold at a foreclosure auction for the current balance on the original note (in our example $105,823.48) the note seller will receive all proceeds over the investor's outstanding balance. 


In all fairness; it must be said in the unlikely event the note seller refuses to participate or pay off the investor, the investor must foreclose on YOUR note to recoup their investment. If the property does not sell and becomes an REO; proceeds from any future sale or purchase money mortgage will not benefit the note seller.


You Can Download This Entire Document with an Amortization Schedule Here.


And that's how a "Partial Purchase" works. You truly can have your cake and eat it too. 


Call 605-229-9795 right now or provide some basic information about your note on our "Quote Request".



Tony Bradshaw
Trust Deed Investments
Phone: 605-229-9795
Tony Bradshaw

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