Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
3y
I was at a convention last week where I was speaking with a small fund manager friend of mine that purchases seller-held mortgages (at a discount of course). He was lamenting that he gets tons of notes on properties that are not drawn up properly and, therefore, he can't buy them for his fund. The moral of the story is that there is a market to sell such loans if liquidity demands if the note, mortgage, and other paperwork is drawn up and executed properly. Just an observation.