Nationwide Secured Capital adds Blog to their website

by Nationwide Secured Capital


Nationwide Secured Capital has recently updated its website to include a blog. The new and improved website will feature stories and information related to selling a mortgage note.
A mortgage note is a promissory note that has been secured by a mortgage loan. It is a written promise to pay back a sum of money to include a rate and length of time. Notes usually refer to a private mortgage. Nationwide Secured Capital works with private sellers and real estate professionals.

Adding the new blog to the website will help people become more interactive with Nationwide Secured Capital. With a blog, the company is able to discuss in detail the services they provide. They can also share opinions, success stories and their expertise to note creators, note holders and real estate professionals to enable them to maximize the value of their asset. The blog is also a way to let those in the note industry learn the latest IRS updates. The new addition of the blog is one of the best ways for note sellers to find Nationwide Secured Capital when searching for a company to seek guidance from when their note needs to be sold. In turn, comments and conversations may be posted by note sellers on recent blogs.

“We are excited to add a blog to our website”, states Gene Powers, President of Nationwide Secured Capital. “We hope to highlight our expertise and share our over 10 years of knowledge with those who are looking to sell their mortgage note. With our knowledge, our buying group has the funds to purchase hundreds of millions of dollars of private seller financed notes every year, including those with defaulted payments.”

Nationwide Secured Capital began in 2002 in Houston Texas with offices across several states. They have experience working with people all across the United States. Their goal is to assist people in the sale of their mortgage note. Nationwide Secured Capital specialize in consultation and purchase of notes on real estate, residential, commercial and land, or on the sale of businesses. The company places a value the note at the maximum market price and arrange capital for purchase of seller financed notes. They have also purchased non performing (defaulted) notes.

To check out Nationwide Secured Capital’s website with their new blog, please see: www.NationwideSecuredCapital.com. To contact them, please call toll free (800) 853-0573.

 

Who Can Buy My Promissory Note?

by Nationwide Secured Capital

Promissory notes exist for almost anything out there that can be bought and require a loan. When a loan is made, a promissory note is created. These notes can then, in turn, be sold. Thousands of notes are sold every year.  Who buys these notes?  What should one look for when selling their note?

A promissory note is basically a document which states the borrower has promised to pay money on what is owed (loaned) on the item. This can include all types of real estate: houses, mobile home, multi-family homes, land, commercial, and so on.

Banks hold the majority of mortgage notes but it is possible for individuals and companies to also buy and hold notes.

How does an individual hold a promissory note?  The most common situation where a person ends up holding a note is when there is owner financing.  When a person sells for example, a house, and offers the buyer owner (or seller) financing rather that the buyer getting a mortgage through a traditional bank, the owner then holds the note to the house. The buyer will then pay the loan back directly to the original owner of the house.  There are times when the note holder has decided he or she no longer wants to be the holder of the note due to the demands of paperwork, requirements of the IRS, or maybe they need money up front. Where does this note holder turn to in order to sell the note?

Individual people do buy promissory notes but it is wise to go with an established company who has the experience, knowledge and funds to buy notes.

What to gather

Record keeping is essential. Gather all records of payments received, property insurance policies, property tax payments as well as the original information on the details of the note such as property address, interest rate, amount of the loan, and the terms.  The potential buyer of the note will probably want a current credit report of the borrower.

What to expect

First of all, do not expect to get full value of the note. Buyers of notes are in the business of buying and generally offer a discount on the notes value.  The risk does exist of the note defaulting. Plus the time and effort to buy the note all this equals a discount on the value of the note. Depending on a number of factors, expect an offer of anywhere from 60 to 90% of value of the note. This could be more or less depending how each situation plays out.  You as the seller will be getting your cash up front while the new note holder assumes all the future risks.

When selling your note, it is best to go with an established company that has seen and experienced almost all note buying cases out there. Many work with notes that range in the few thousands to the millions of dollars when they are backed by large financial investors.  Nationwide Secure Capital is one such company that has the experience, knowledge and financial capabilities to handle the sale of your promissory note.