We buy the following (click to go to appropriate submission sites or call us):
1) First position mortgage notes or deeds of trusts (usually close in less than 2 weeks upon full receipt of all required information.) Current quotes are 55 - 85% of unpaid principal balance for most notes; qualification varies based on credit score of the payor, seasoning of the note (i.e. length of time in repayment), location and type of property, whether owner occupied or an investment property, and numerous other variables. Ascertaining today's property value is our greatest task in purchasing mortgage notes in today's market.
2) Second position mortgages notes or deeds of trust if the combined loan to value [(first + second) /value of property*] is less than 80% (usually close in less than 2 weeks upon full receipt of all required information.) Current quotes are difficult to estimate since the combined loan to value (CLTV) is our most important consideration.
3) Annuity contracts that are transferrable (usually close in less than 2 weeks, upon approval of insurance company.) We also provide and coordinate all three (3) required refusal letters for those Elder Law Professionals who are preparing their clients to qualify for Medicaid. We work with our member associates to coordinate all letters and provide such with a three (3) business day turn-around.
4) Structured settlements (usually it takes 1.5 – 3 months to close due to I.R.S. required need for approval by court.) We pride ourselves in consistently providing higher quotes and better one-on-one service to close and funds these purchases.
5) Lotteries (usually close in less than 30 days.) If circumstances have changed after a person has selected a pay-out over a number of years, we can purchase any amount needed by the lottery winner. (If we could all be so lucky!)
6) Credit Tenant Leases** (usually close in less than 30 days.) Credit tenant leases are those leases paid by corporate tenants who have been rated by Standard & Poor's or Moodys. It is NOT an individual or small business.
7) Factoring We fund accounts receivable, purchase orders or pending contracts of all sizes of commercial businesses. Please contact us by phone or email. This usually takes just a week or so to set up and can be on-going on a monthly basis. Most of our factoring clients have found that in today's credit crunch, their lines of credit have been reduced or eliminated and in order to provide cash flow to pay wages and expenses, they must rely on their accounts receivable, purchase orders, contracts, and even merchant credit card average receipts. We have many solutions to fit most business' needs.
We also accept accredited investors to our mortgage note pools or private investors for one-on-one repurchase of mortgage notes. Please go to our affiliate website, PrivateMortgageAssociation.com
*Property Values: All offers for mortgage notes or deed of trusts will be based on TODAY’S value of the property, NOT the sale price of the property. We calculate TODAY’s value through several means: a) initial review at www.realquest.com; b) request for broker price opinion after a contract is entered; and c) our due diligence after a contract is entered of the existing circumstances of the neighborhood, considering all preforeclosures, foreclosures, bank-owned (REOs), recently sold properties, and the number of active properties on the Multiple Listing Service including list prices and incentives.
** Credit Tenant: A Credit Tenant is a tenant which holds a high rating by Standard & Poor’s and because of such, the lease is of sufficient credit worthiness, that the future stream of lease payments may be purchased at today’s value.
Copyright 2007 - 2008, National Note Association, Inc.