Is There Potential Litigation One Must Go Through For This Promissory Note Reconversion Process

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• Will The Promissory Note Reconversion Process Affect Our Current Loan

  The promissory note(s) will be taken off the market and therefore extinguished. In short, one will obtain a satisfaction of the note when the money is received. This reconversion process for old promissory notes will not affect current-standing ...

• What Are The Risks For The Promissory Note Reconversion Process

  There is a potential loss of time spent to initiate the paperwork (~2 hours). And only in cases where one seeks satisfaction of a current mortgage would there be a temporary monetary loss, which is returned in full in cases of failure. Since the ...

• What Are The Costs For Reconverting A Promissory Note

  Prior Mortgage / Sale / Refinance / Foreclosure: We require 0% of note's face value as down payment, we will obtain our payment after the reconversion process is completed from the issued funds. For this scenario, because the home/property is not ...

• What Are The 3 Steps / Phases to This Promissory Note Reconversion Process

  PHASE 1 : RESEARCH (15 DAYS) 1) We verify and research a members documents. If it’s determined that the note is not securitized or placed into a mortgage backed security, then we stop the process. PHASE 2: FILE (90 DAYS) 1) We will file assignments, ...

• Why Does This Promissory Note Reconversion Process Work

  Upon purchasing a home, a buyer actually acted as the investor and issued a promissory note backed by a mortgage, giving the bank an asset that’s traded and monetized/securitized for 15 or 30 years regardless of what happens to the property. The ...