A mortgage note is a type of promissory note showing the terms of an owner-financed sale of a property. (http://www NULL.biggerpockets NULL.com/blogs/2164/blog_posts/41637-2015-looking-good-for-note-buyers)The terms include the interest rate, duration of payments, payment amount, due date of first payment, what happens in case of a non-payment, etc.
A mortgage note is sometimes called a real estate note, a deed of trust note, or simply a promissory note — they are basically the same for most purposes. A contract for deed is similar in most respects to a deed of trust or mortgage, though it is uncommon in most states. The note is the “I.O.U.” while the deed of trust or mortgage pledges the property as collateral for the sale.
Note buyers like Seascape Capital can help you to understand the value of your real estate note, as well as make offers to buy all or part of your note. An excellent mortgage note buyer is one who can not only get you a great price for your note, but will also provide you with great service and provide the utmost integrity.
If you have a mortgage note, a trust deed note, a business note, or any other type of promissory note that you are considering selling , you can fill out the online form or call us, as Seascape Capital is among the premier note buyers in the country. Regardless of how you want to communicate with us, we will almost always get back to you in less than four hours.