What,Mortgage,Note,Buyer,You,c finance, share, loan What Is a Mortgage Note Buyer?
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You can own real estate for years, however, without getting involved with a mortgage note buyer or even hearing about their involvement in a transaction. However, while such a professional may not be well-known, he or she plays a critical role in many real estate deals. So what exactly is a mortgage note buyer? This is a professional who buys notes, or loans, from someone who is currently holding the loan. One of the most common scenarios where such a professional would come into play is in a residential sale where the buyer is having trouble finding financing to purchase the property, and the seller offers to finance the loan for the buyer. After closing, the seller then takes on the role of servicing the loan, or the seller can also choose to sell the loan to the mortgage note buyer. When the seller sells the loan, he or she will be provided with a cash offer and will no longer need to service the note. As you can see, this professional in the real estate industry may not be well known and may not be used in many transactions, but he or she plays a critical role in getting some transactions in place. After all, if the seller was not aware of the option to sell the loan after closing, the seller may not have decided to offer the buyer financing. Without financing, that deal would likely not have reached the closing table.
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