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 involved, it is purely a recovery of the financial instrument known as a promissory note that you as the “issuer” conveyed to the bank. Roughly 30% of the initial note amount is a potential expected return due to fractionalization-monetizitation-securitization.
Current Mortgage: We require 25% of remaining balance as payment after full satisfaction. For this scenario the goal is to identify all unclaimed funds and apply them towards your mortgage to obtain full satisfaction / release of lien.
NOTE: HELOCs and reverse mortgages cannot be recovered because they are found only on the 'private lender books' for these loan variations.