How to Protect Your Promissory Note

If you have sold a property with owner financing, then you now own a note. If you purchased a note, now what do you do with it? What do you do other than wait for the monthly payments to come in?  How should you care for your note? There are many steps you should take to keep you note safe.

Safeguard you note

Safeguarding of your note is just as important as other important documents you may have: pink slips, social security cards, birth and marriage certificates, or will and so on.   If an attorney assisted in the closing of the property, sometimes, the attorney will keep the original note document and give you a copy. You have the option of keeping the actual note yourself.  It is a good idea to keep the original note with the original mortgage of deed of trust which will be returned to you after it has been recorded at the county recorder’s office.

Keep a detailed payment history

Record keeping of the payments made on a note is necessary. This is help prevent any questions that may arise about payments made or not made.  Even if you have no plans to ever sell your note, it may help the borrower should he/she decide to refinance if you have a balloon payment. Or, if there comes a time when you decide to sell, the accurate payment history will help you get the highest possible price.

Complete Article http://nationwidesecuredcapital.com/Sell-My-Note/protect-promissory-note/

Paper Source Journal Announces Dates for Symposium in Las Vegas

The Paper Source Journal is holding their 4th Annual Symposium “Cash Flow Profits”. This event will be held at the Tuscany Suites Hotel in Las Vegas, April 30 to May 2, 2015.

Cash flow notes are negotiable instruments payable to the bearer on demand. Promissory notes exist for real estate, lottery winnings, royalties and more. This 3 day event will address issues such as how to find, buy, and broker real estate notes, both performing and non-performing, how to use notes to defer income taxes, and other opportunities in the cash flow business. Also to be addressed are tax strategies, structured settlements, and accounts receivable. A variety of speakers with vast knowledge and experience in paper notes will present at the Symposium including CPA’s, CEO’s, and CFO’s. There will also be a trade show where attendees can meet with investors, hedge funds, servicers, and more.

“The cash flow note business is coming back stronger than ever. This symposium is the only continuing education for note professionals,” states Bill Mencarow, host of the event and founder and editor of Paper Source Journal. “I do not allow sale pitches at my events so this is learning experience for all”. Mencarow says that this seminar is for all people whether they are new to the cash flow business or professional investors. He continues that this event is a good time to network with brokers and investors.

Mencarow founded the Paper Source Journal in 1987. His wife Alison is the publisher. The Paper Source Journal is a monthly publication dedicated to the education of cash flow note investing. The Mencarows have been teaching seminars for cash flow note investors and brokers since 1990. Bills’ background includes working as a Ronald Regan staffer, press secretary for two members of Congress, best-selling personal finance author, and television and radio talk show host. The Mencarows have been buying notes since the early 1980‘s.

See more at: http://www.prreach.com/paper-source-journal-announces-dates-for-symposium-in-las-vegas/

Why sell your note,mortgage note or real estate note?

Maybe you have an unexpected medical expense, a business venture, or the desire to pursue another investment. Maybe you no longer want the burden of servicing the note or worrying about whether taxes or insurance are current.  Whatever the case may be, you want to sell your note. You would like a lump sum of cash instead of monthly payments.

How do you go about selling your note?

There is some general information initially needed to start the process. A brief description of the property such as is it residential or commercial? What is the size of the property? There are notes sold for single family residences, multi-family residences, commercial buildings, mobile homes, and vacant land. They can also be sold for vehicles, boats, and other property.

What is needed are the numbers. How much did you sell the property for? What was the down payment? What was the original balance of the note and the interest rate?  The length of time the payments have been made, also known as seasoning, is a consideration in selling your note.  How many years or months of payments are left on the note are also required.

A credit history of the payor along with history of payments made will help decide if the note is worth a buyer purchasing it.

More: http://www.nationwidesecuredcapital.com/sell-my-note/