- Noteholder provides relevant information about the note (e.g. Face Value of Note at origination, Interest Rate, Payment Amount, Term, and Number of payments made and Number of Payments remaining, etc.).
- Noteholder provides Payer's (person making the payments) credit score, and a recent appraisal of the property. (Noteholder provides this only if they have the information)
- Information is presented to an investor(s) for review and a quote is generated.
- If the noteholder accepts this offer, the offer is sent to the noteholder in writing in the form of a Commitment to Purchase which is to be signed by the noteholder(s).
- Once signed, the Commitment to Purchase is sent back to David Banks Note Services along with copies of all necessary documentation (e.g. Deed of Trust, Land Contract, Promissory Note, Mortgage, etc.)
- When documents are received they are forwarded to the investor(s).
- Investor(s) will order a credit report on the Payer(s), and an appraisal on the property if applicable.
- Contingent upon on these two variables and an evaluation of the note documentation, investor(s) will open escrow to purchase the note.
- You or your client could receive a lump sum of cash in as little as 30 days.
Get Your Free Quote at www.davidbanksnoteservices.com
