Questions on mortgage notes

[Medina Norris]

I was in a meeting and the subject of purchasing notes came up. Someone please explain what does it mean to purchase mortgage notes and how do you do it?

[Jay Hinrichs]

@Shiloh Lundahl  just so your giving accurate information.

The transfer or sale  of  what you all refer to as a note sale is really an  assignment of the mortgage or deed of trust depending on what instrument was used.. the note comes along with it.. some buyers or banks require an alonge others just a simple note purchase contract others NOTHING>. 

but the act of transferring a secured recorded real estate debt instrument is done as described above.

when we say you bought a note .. to the lay person that's what it is .. but you can't buy a note without the underlying assignment coming along with it..  so its two steps. other wise your just buying an unsecured promissory note.   ITS two steps.

1. assignment 

2. literal physical transfers of original note and alonge'