Partial Notes

NEED A PARTIAL CASH OUT ON A NEWLY CREATED SELLER FINANCE NOTE?

HERE IS AN EXAMPLE OF WHAT WE ARE TALKING ABOUT….

SELLER SOLD HIS HOUSE FOR $110,000 WITH $10,000 DOWN AND CARRIED THE NOTE OF $100,000 @ 10% PAYABLE @ $1000/MO UNTIL PAID IN FULL.

WE AT THE BRIDGE FINANCING WILL LEND THE NOTE HOLDER $30,000

FOR ALLOWING BRIDGE FINANCING(THE LENDER) TO COLLECT $1000/MO FOR THE NEXT 5 YEARS.

AFTER THE BORROWER(BUYER) PAYS BACK THE THE 60 PAYMENTS, THEN

LENDER WILL SURRENDER THE ORIGINAL NOTE & DEED OF TRUST BACK TO THE SELLER TO CONTINUE TO COLLECT REST OF THE PAYMENTS DUE TO THE SELLER FROM THE BUYER.

IN THE EVENT THERE IS A DEFAULT ON THE PART OF THE BORROWER DURING THE 5 YEAR PAYMENT WINDOW, THE LENDER CAN FORECLOSE TO OBTAIN THE REST OF THE MONIES OWED AND THE REMAINDER GOES BACK TO THE ORIGINAL SELLER.

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