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.
Related Articles
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 ...
Does A HELOC Have Closing Costs Like A Mortgage
No, although some banks have costs like a mortgage, ranging from $0 to $750. A HELOC is more efficient and cheaper than a mortgage, by far!
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, ...
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 Is The Price For The Program
We list all of our program's prices below: PRODUCT NAME MSRP PRICE Beat The Ticket Secrets $297 Bulletproof Trust Secrets $997 Debt Removal Secrets $997 Elite Tax Secrets $997 Foreclosure Secrets $997 Half Your Mortgage $3,997 High Credit Secrets ...