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 situation for 98% of promissory note issuers is that as an investor-issuer, we abandon our interests until claimed. We do a forensic accounting, due process implementation, lawful redemption and collection of what’s due to the original buyer/issuer/investor.