Real Estate Note Help
Are you personally receiving payments on this note?
Specifically - Are you the note holder and collecting payments?
Specifically - Any other details on the note that would be of help.
Specifically - The person who is making the payments is referred to as
the "payer". If you know the status of the payer's credit, please select
it on the form. If you don't know, please select unknown.
Specifically - When the note was created what was the selling price of
the property? Or - if you have received a written appraisal on this property
in the last 6 months, please state that amount.
Specifically - Does the note seller live in the property securing the
Specifically - What was the date it was sold to the person making
payments to you?
Specifically - How much was it sold for?
Specifically - The initial sum put towards payment for the sale.
Specifically - What state is the property itself located?
Specifically - What city is the property itself located?
Face Value of Note For Sale
Specifically - The original value of the note at the time it was first
Specifically - The amount remaining to be paid on the note as of now.
Specifically - This is the amount of interest, which is displayed on
Specifically - The amount of the payment due each payment due date.
Loan to Value
Specifically - The loan to value or LTV is a percentage ratio between
the total loans on the property and the property value. EXAMPLE: If the
property was $100,000 and the 1st loan was $50,000 and there was a 2nd loan
of $20,000 the LTV would be 70% ($50,000 + $20,000 = $70,000 divided by
$100,000 = 70%)
Specifically - On-time payments are current, delinquent payments are late.
Specifically - A large payment on the note, Usually due at the end of
the payment schedule. (if any, not all notes have a balloon payment)
How Much Balloon Payment
Specifically - What is the amount of the balloon payment?
(if any, not all notes have a balloon payment)
When Balloon Payment Due
Specifically - What date is the large payment on the note, usually due
at the end of the payment schedule required? (if any, not all notes have
a balloon payment)
Position of Note
Specifically - Has the note been created by a first or second loan?
1st - Remaining Balance
Specifically - The balance on the first loan to be recorded as a lien
against a specific property.
2nd - Remaining Balance
Specifically - The balance on the second loan to be recorded as a
lien against a specific property.
If you still need some clarification on any of the info we are asking for
please click here to email us
and we will be glad to be of further help.
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