What Are Notes
An important thing to know when entering the note business is what “notes” actually are and knowing the intricacies that accompany the note investing business. There are many ways to acquire notes, handle your notes and maintain your notes.
This video will introduce you to what notes are and if you are considering a career in the note investing realm, this will be very beneficial to you.
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To your success,
- Paper documents representing a debt (mortgage, credit cards, auto, boat, HELOC)
- Focus is on the non performing notes
- First position institutional(bank) created real estate debt
- Mortgages are in the East Coast
- Deeds of Trust are in the West Coast
- All mortgages and deeds of trust are public documents
- We have access to information that encloses whether or not a property has a lien or loan on it.
- Assignment of deed of trust or mortgage is available at the county clerks office
- Allonges endorse promissory notes to subsequent note owners
- Contract for deeds no requirement for foreclosure
- If a default occurs repercussions vary state-by-state