Can you get a credit report without permission of the creditor? Lorelei Stevens, President, Wall Street Brokers, Inc., has been spearheading this question on behalf of the note industry for years — unofficially, of course, since there is no organized “note industry.” (Reminds me of Will Rogers’ comment, “I’m not a member of any organized …
Can you get a credit report without permission of the creditor? Read More »
What are the questions noteholders ask? “I saw your ad. What do you mean you buy mortgages?” Your best strategy is to ignore the question and ask one of your own: “Are you receiving payments on a mortgage now?” Otherwise, you may find yourself explaining mortgage investments to someone who is simply curious. Don´t waste …
What makes a good cash flow note? The value of a real estate note depends ultimately on the economic conditions that support the value of the property. An owner-occupied single family house in a good neighborhood located in an area with a diversified, long-term stable economy is the best collateral possible. It is further enhanced …
What’s the truth about the infomercials? A few years ago the suede shoes and pinky ring crowd showed up selling cash flow “seminars” and “boot camps” and “coaching”on TV infomercials, in slick magazines and mass mailings, promising people that notes are the sure path to riches. They tell people: “The note business is easy.” “There´s …
What about all those investors on the Internet? Again, 99% of them aren´t investors at all — they are brokers selling to the very few true full-time end investors. They just want other brokers to do all the work and take a piece of what should be the other brokers’ commissions. What about private investors? …
How do you convince note owners to take a discount?
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The Texas Department of Savings & Mortgage Lending made the following announcement today (8/12/10) regarding the impact of the SAFE Act on the Texas statutory de minimis exemption from licensing for seller finance. The de minimis exemption allows a seller to carry back notes on up to five property sales per 12 months without having …
Texas Continues De Minimis Exemption Under SAFE Act Read More »
The Home Depot fired an employee for refusing to remove a “One nation under God” patriotic button from his work apron. Trevor Keezor, a Christian, said he wore the button to support his country and his 27-year-old brother, who serves in the military in Iraq (story and video here). Dozens of homosexual employees participated in …
Here’s an example: Someone owns a house free and clear — no mortgage. They sell their house for $200,000, receive a $40,000 down payment from the buyer and take back the $160,000 balance as a note, an IOU, from the buyer, where he promises to pay the $160,000 plus interest in installments. The note is …
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