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Updated over 9 years ago on . Most recent reply

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Michael Healy
  • Investor
  • Great Barrington, MA
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Note servicing platform for owner finance?

Michael Healy
  • Investor
  • Great Barrington, MA
Posted
Is there an online note servicing platform you use for owner financing? One that keeps track of any prepayments and adjusts balloon and interest owed? Thanks!

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I use a local bank's contract servicing.  They hold all original docs and do the amortization, interest reporting, etc.  I'd check with a community bank in the area of the property.

@Brian Gibbons has one he recommends to his students.  I think it's an online service like you seek.  Thanks, Brian!

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