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December 08, 2009

Mortgage Notes

Mortgage notes are used to record the terms of a bank note issued to purchase real estate. These legal contracts document the amount of funds borrowed, interest rate, property location, and contact information for parties responsible for repaying the loan.

Mortgage notes can be sold to cash flow notes buyers or private real estate investors. Many reasons exist for selling real estate notes. The most common include obtaining a lump sum of cash to finance college tuition, pay off credit cards, medical expenses or unsecured debts.

Real Estate Investing article on "Mortgage Notes"

August 31, 2009

Refinance Mortgages

Many homeowners elect to refinance mortgages to obtain a reduced interest rate. This can be a smart financial decision when borrowers hold a first and second mortgage. Both home loans can be rolled into one new loan; reducing monthly payments and lowering the risk of default.

In order to refinance mortgages borrowers must apply for a new loan. Homeowners can refinance through their current lender or seek out banks offering the lowest rate of interest. Financial experts recommend shopping around for a new home loan before entering into an agreement.

Real Estate Investing article on "Refinance Mortgages"

July 21, 2009

Mortgage Buyers

The term 'mortgage buyers' refers to investors who purchase monetary notes such as mortgages, promissory notes, land contracts and trust deeds. Individuals who own monetary notes can sell them in whole or part in exchange for a lump sum of cash.

When mortgage buyers purchase real estate notes and land contracts, the note holder assigns ownership rights by executing an assignment of mortgage. Typically, a real estate lawyer is required to execute the document and ensure both parties are legally protected in the event of default.

Real Estate Investing article on "Mortgage Buyers"

March 11, 2009

Deed of Trust

A deed of trust is a legal document used to secure interest in real estate. Some states use trust deeds instead of mortgages. Although these two documents are similar in nature there is one primary difference. With a deed of trust the lender retains the property title until the loan is paid in full. With a mortgage, the buyer holds the title while the lender is provided with a property lien.

Deed of trust mortgages involve three parties and include the borrower, lender and trustee. The borrower is provided with a mortgage loan through the lender and must designate the lender as beneficiary to the legal title. The trustee retains the property title throughout the duration of the loan.

Real Estate Investing article on "Deed of Trust"