I have a good source for some mortgage notes. Some are in good standing and some are in default. Rather than go out and buy all the good deals and sell the to investors and note buyers I would like to assign the deal over for a fee.
Anyone here familiar with the process of assigning mortgage notes. Any help will be greatly appreciated.
Thanks
Jaz
Howdy Jaz:
Once you get a buyer you will still use a title company to handle the closing. The buyer will want to know what liens are on the property and have a third party handle the money. There are a few special forms or agreements used. One is an Affidavit of Mortgage Transfer and the other is the actual Transfer of Lien. These and possibly other documents vary from deal to deal and I have limited knowledge as I have only done a few. I will send you a copy of the forms I have in my possession.