This article is part of a series designed to make mortgage Note sellers’ lives easier, so they can get the cash they want.
Tip #1: Value the property correctly
Tip #2: Know your taxes and liens
Tip #3: Get your pay history in order
Tip #4: Get collateral in order
Tip #5: Get ready for closing
And finally, tip #6 is known in advance if the borrower might create any issues that could impact the Note sale.
By now, you should know your borrower. Is he/she going to be willing to answer questions during an estoppel interview?
EstoWHAT?
An estoppel affidavit outlines the agreement between you (the lender) and the borrower and affirms the borrower acted freely and voluntarily—during your arrangement—without coercion or duress.
So…is the borrower going to be willing to speak freely about that affidavit and your arrangement? Or, is the borrower going to present any other challenges?
We highly highly recommend you know the potential issues he/she may present before a Note sale gets too far down the road.
To learn more in general about Faller Financial and Notes, go to fallerfinancial.com/note-resources.
Call 844-433-6683 or email info@fallerfinancial.com to sell your mortgage Note, or request a consultation at fallerfinancial.com/contact.
Photo by Fabian Gieske on Unsplash
