Exit strategies in non performing notes
Thursday, April 27
Once we acquire a nonperforming note, we reach out to the borrower and assess the borrower's situation, so we can identify the most likely exit strategies that will fit the case.Our typical exit strategies are1. Reinstatement: The borrower starts making their monthly payment and the past due inst...
Status update on Detroit note deal acquired on October 2016
Thursday, March 16
On October we acquired a nonperforming note secured by a SFR in Detroit for 9,000.00 with private funds. The borrower was behind 5 months behind on her payments. The debt was discharged thru bankruptcy chapter 7. This limited our options. After a few hiccups with the services and recording the as...
How Non performing note investing work!.
Friday, February 24
How a Note is created: When a real estate property is purchased with a loan, two mayor documents need to be signed, promissory note that states name of the borrower and loan terms, very similar to an IOU, and a mortgage that imposes a lien on the deed of the property to secure the note.f the borr...