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Quote
of the Week
“There
are no great limits to growth because there
are no limits of human intelligence,
imagination, and wonder.”
― Ronald Reagan
 President's
Corner
Hope the month of May is going
well for your note business,
things are humming along over
here! This week I want to
briefly address telephone
etiquette.
I've been getting too many calls
lately from note brokers acting
very inappropriately and
unprofessionally on the phone.
The note business is a real
business and you must be
professional at all times. The
telephone, cell phone, smart
phone, Android, iPhone or
whatever device you use to
communicate with note
professionals and note holders
is a tool and needs to be used
appropriately. I did some
internet research, and you can
do the same if you like, on
telephone etiquette, and I would
like everyone to click on the
below link for some tips on
telephone etiquette. Read the
info as a reminder or
introduction of how to act and
communicate while on the
telephone in the note business
and beyond. Talk to you next
week!
Phone Etiquette
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Feature Article
Use Your Tools
There are tools available to
every note broker that you must
learn to use to get your
business started, to be
competitive and to keep your
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how they can help you...Read
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Question of
the Week
Q
- Hi Jeff,
I received this email and was not quite sure how to reply to the note holder who
had contacted through my web site.
“…My brother and I inherited a farm from my father. Last year we sold it on land
contract. The way it is set up is that the buyer made a 50% down payment, and
the remaining balance was to be paid in 60 monthly payments. My brother and I
receive separate checks each month for our half of the payment. I would like to
know if I can sell my half of the mortgage note without having to involve my
brother…”
Is a note such as this worth pursuing? I realize more info would be needed.
Thanks.
~ Tom
A -
Hi Tom!
The short answer is yes, it can be done, however the other brother would have to
be involved. When a note buyer purchases a 50% interest in the note both parties
do need to be involved because they way it works is we would collect the entire
payment and then pay out the other 50% to the other party every month when the
payments came in. We would still take a full assignment of the note and be in
control if the note were to go into default. So there would be no way for the
other brother not to be involved. Hope this helps!
~ Jeff
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