Updated over 1 year ago on . Most recent reply
Collateral based lenders (against promissory notes)
Can anyone recommend a collateral lender who lends against promissory notes? We're calling around and getting interest from maybe 5 to 10% of the lenders we call, but nothing solid yet.
The promissory notes are generated by an RMLO during resale of our property on owner finance terms. I know I have other options like selling the notes or partialling, but this question is more focused on taking collateral based loans against the notes.
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Jay Hinrichs
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Jay Hinrichs
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U want to hypothicate the notes ? small community bank where the assets are located is where I have had success at a little over normal bank rates.. but keep in mind we had significant deposit relationships 7 figures etc..
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