http://www.notebuyingprofits.com/blog/422/how-to-buy-real-estate-notes-i-bought-a-non-performing-note-now-what/ Real-Life, Up-to-Date Training to Profit from Defaulted Mortgages Mon, 20 Jun 2011 02:09:29 -0400 http://wordpress.org/?v=2.8.2 hourly 1 http://www.notebuyingprofits.com/blog/422/how-to-buy-real-estate-notes-i-bought-a-non-performing-note-now-what/comment-page-1/#comment-476 notebuyingprofits.com Mon, 05 Jan 2009 19:00:23 +0000 http://notebuyingprofits.com/blog/?p=422#comment-476 Bob, if you're just starting out (and even if you're an experienced investor) you really don't want to buy any note unless you can get the original note, and have that included in your purchase and sale agreement with the bank. You're absolutely right about judges being increasingly sensitive to lenders proving title to the mortgage. If the seller won't warrant that they have (and will provide you with) the original note and an allonge (template included in the document toolkit we provide as part of the A-Z homestudy course on the homepage at NoteBuyingProfits.com), then don't buy the note. Bob, if you’re just starting out (and even if you’re an experienced investor) you really don’t want to buy any note unless you can get the original note, and have that included in your purchase and sale agreement with the bank. You’re absolutely right about judges being increasingly sensitive to lenders proving title to the mortgage. If the seller won’t warrant that they have (and will provide you with) the original note and an allonge (template included in the document toolkit we provide as part of the A-Z homestudy course on the homepage at NoteBuyingProfits.com), then don’t buy the note.

]]> http://www.notebuyingprofits.com/blog/422/how-to-buy-real-estate-notes-i-bought-a-non-performing-note-now-what/comment-page-1/#comment-467 Bob Smith Sat, 03 Jan 2009 08:19:55 +0000 http://notebuyingprofits.com/blog/?p=422#comment-467 What do you do without the note? I live in Florida (a judicial foreclosure state). Judges are getting real picky about letting lienholders foreclose without an original note, and defendant's attorney's are getting very aggressive about demanding both an original note and a complete accounting of the application of funds. Not having either can mean you have a worthless asset because you have no means of enforcing payment. What do you do without the note? I live in Florida (a judicial foreclosure state). Judges are getting real picky about letting lienholders foreclose without an original note, and defendant’s attorney’s are getting very aggressive about demanding both an original note and a complete accounting of the application of funds. Not having either can mean you have a worthless asset because you have no means of enforcing payment.

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