ARE SEASONED MORTGAGES A BETTER DEAL?
I’ve had people tell me they would rather look for seasoned notes. Great. I like seasoned notes too. But remember, whether its seasoned or brand new, the bottom line is that it’s still owner financing. When you market for seasoned notes, you’re going to see a lot of low-quality deals. In other words, the mortgage and note was originally set up with weak financial terms. Things like low down payments; too long of a pay back with no balloon; sloppy legal work or terrible LTV’s, etc. What’s needed is for somebody like you to show these people in the beginning, when they first sell their property, how to structure good, solid owner financing. DOES IT REALLY PAY TO PROMOTE OWNER FINANCING? So why should you go to the trouble of showing home sellers how to structure owner financing? It’s simple. You want to buy or broker the new mortgage and note that’s created from the sale of the property. I’m here to tell you that home sellers will be eager to sell you their deals. They’re eager because y
