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Tax Liens & Mortgage Notes

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Izraul Hidashi
  • Los Angeles, CA
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If a Borrowers Promissory Note Funds a Loan Who Is The Creditor?

Izraul Hidashi
  • Los Angeles, CA
Posted Jan 1 2017, 03:49

If a Borrowers Promissory Note is used to fund their loan, then who would the creditor be?

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Replied Apr 1 2024, 17:41

I'm located in Pennsylvania.  Is there a way I can find out if promissory note was converted and sold?

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Chris Seveney
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#2 All Forums Contributor
  • Investor
  • Virginia
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Chris Seveney
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  • Virginia
Replied Apr 3 2024, 06:35
Quote from @Chris Strausbaugh:

I'm located in Pennsylvania.  Is there a way I can find out if promissory note was converted and sold?


what do you mean converted? Promissory notes are transferred by endorsing the back or a document called an allonge. If it was secured by real estate then there should be a mortgage recorded at the county and those get transferred by a corresponding assignment of mortgage.

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Replied Apr 12 2024, 11:47
Quote from @Chris Strausbaugh:

I'm located in Pennsylvania.  Is there a way I can find out if promissory note was converted and sold?


 yes, get a mortgage securitization audit done with Bloomberg report included.  it will show you how many times it was sold and how much they made (usually millions)