Don't call the local branch teller. You need the decision-makers: Ask for the . Request to speak with the Secondary Marketing Manager . Ask for the VP of Asset Management . 3. Vet the Note (Due Diligence) Before sending money, verify these three pillars:
Run a title search to ensure there are no superior liens (like unpaid taxes or IRS liens) that could wipe you out. 4. Make an Offer how to buy a mortgage note from the bank
More likely to negotiate on single notes. Don't call the local branch teller
The contract governing the trade.
This document is recorded at the county level to prove you are the new legal owner. Ask for the VP of Asset Management
Can sell for 30%–60% of the property value, depending on the equity. 5. Close the Deal
Notes are bought at a discount to the "Unpaid Principal Balance" (UPB).