Did you know....

              The best way to maintain accurate records is to establish a filing system that works best for you and your business. Alphabetic and numeric are the most common and this is usually determined by the method in which you track your transactions, note holders and investors.

Product Highlight

       In easy to understand language, the many topics that are discussed in the Note Holder's Handbook include the following:

·         How much is your note really worth?

·         Why record keeping is vital to your note's value

·         A simple technique that can avoid tax problems.

·         What to do when the payments are late.

·         What to do if the payments stop and when to foreclose

·         A simple step you can take to verify the safety of your note.

·         How to get top dollar if you sell all or part of your note.

The Note Holder's Handbook also includes a Handy Reference Data area to keep all of the pertinent information regarding the note in one place AND a simple to use Payment Record chart to keep track of the payments received.  This handbook is a must for someone receiving payments on a real estate secured note as well as a fabulous marketing tool for note brokers and investors. good saleable note as well as suggested property sale and note structures.

Click for more info and to order TODAY!

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President's Corner

       NoteInvestor.com interviewed me for their latest Note Buyer article in their latest newsletter and I thought you might like to read it.  Very thoughtful questions and detailed answers.

Read Interview Here

       Remember, Success Demands Action! Keep on marketing, it’s going to work! TWITA!

Question of the Week

Q - Hi Jeff,

          If someone has an underlying debt in the same amount they've written a note to a new buyer for, what are their options if any for selling the note? A woman called me with $108K debt to Chase and she wrote $108K note with buyer. (30 yr, 6.0910%, $10K down, 5 months paid, $1100/mo., has owned property 5 years) Now she'd like to remove some or all of the Chase debt from her credit report for purposes of qualifying to purchase a new home, any suggestions? ~ Pegi H. 

 A - Hi Pegi! 
          In order for us to buy a note with an underlying the underlying would have to be paid off out of the proceeds.   So in this case if we were to buy the $108,000 note at say $80,000 the seller would have to PUT IN the additional $28,000 to pay off the underlying to Chase.  In my 21 years of buying notes I have only closed 1 transaction where the seller put money into a deal to pay off an underlying note (and it was only about $5,000). Hope this helps!  TWITA! ~ Jeff

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