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Updated about 2 years ago on . Most recent reply

Carolyn Morales's profile image
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Carolyn Morales
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  • from Jacksonville, FL
  • Member since Dec 20, 2015
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Carolyn Morales's profile image
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Carolyn Morales
  • Investor
  • from Jacksonville, FL
  • Member since Dec 20, 2015
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Carolyn Morales
  • Investor
  • Jacksonville, FL
217
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504
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Tax Liens & Mortgage Notes

Can I ask the bank if i can buy my own note?

Carolyn Morales
  • Investor
  • Jacksonville, FL
Posted

Can I buy my own mortgage note from the bank for pennies on the dollar? it can not hurt to ask, right?

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Daniel Chang's profile image
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Daniel Chang
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  • from Riverside, California
  • Member since Nov 22, 2009
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Daniel Chang
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  • from Riverside, California
  • Member since Nov 22, 2009
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Daniel Chang
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  • Riverside, CA
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Daniel Chang
  • Professional
  • Riverside, CA
Replied

Can you imagine the precedence if they allow this?  

- I'm responsible to pay a mortgage

-  A nonperforming note sells at a higher discount than a performing note

Conclusion, I should stop making mortgage payments to make the note nonperforming, then buy it out from the lender for pennies on the dollar.  

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