Private Mortgage Notes, or as they are sometimes known, Owner Carry-Back Mortgages, are mortgage-backed promissory notes that are the result of a seller of a single family home, condominium, multi-family residence or other residential or commercial building providing some degree of finance to the new buyer of the dwelling at the time of closing. They can be for the full amount of the mortgage on the sale (first position notes) or can be for a portion of the mortgage (second position notes) behind a traditional first mortgage lender. Historically, Private Mortgage Notes, Land Contracts, Deeds of Trust, and Contracts for Deed have been excellent investments but periodically, holders do need to sell for a variety of reasons including.
When selling your mortgage through Highlands Management Services, we can offer many flexible options to suit the needs of the note seller including...
In today's challenging real estate market and economy, Private Owner Financed Mortgage Notes are becoming more widely used and commonplace in real estate sales and can often provide the catalyst to get the deal done. Many sellers would prefer not to hold mortgage paper for lengthy periods of time, however. Before you structure your deal, think of your "exit strategy". Contact us regarding how to make your Private Owner Financed Mortgage Note attractive for resale at a later date if necessary.
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