PRIVATE OWNER CARRY-BACK MORTGAGE NOTES
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 partial (second position notes) behind a traditional mortgage lender.
NEW AMERICAN PROPERTIES is a buyer of private mortgage notes. If you are the holder of a private mortgage note receiving monthly or quarterly payments and would like a lump sum of cash for any reason, we can help. As the owner of a private mortgage note you can:
– receive a lump sum of cash for a complete sale of your note
– sell a percentage (such as one half) of your note.
– sell a specified number of monthly payments.
– sell your balloon payment (if applicable)
– any combination of the above.
NO OBLIGATION CONFIDENTIAL QUOTE
You can receive a "no obligation" confidential quote on your private carry-back mortgage note from NEW AMERICAN PROPERTIES, simply contacting us by phone, email, or mortgage quote form. A representative will contact you within 24 hours to begin processing your request.
ATTENTION! REAL ESTATE PROFESSIONALS AND FSBO SELLERS
While owner carry-back mortgages can often provide the catalyst to get the deal done, many sellers are reluctant to hold mortgage paper for lengthy periods of time. Before you structure your deal, contact us regarding how to make your private mortgage attractive for resale at a later date if necessary.
