In our current real estate market, making the difficult decision to sell your mortgage note and finding a mortgage buyer who is honest, reliable, and trustworthy can be risky, stressful, and challenging!
Selecting a Mortgage Buyer
Once the choice has been made to sell your real estate note, the process should be as quick, efficient, and painless as possible with a note buying company with whom you can communicate and feel comfortable. American Equity Funding (AEF) is a company who buys owner financed mortgages with over 29 years of experience. Having sold and bought thousands of notes, we understand the pressures and take great care to ensure the consideration of our clients throughout the entire process. A typical inquiry with our company includes the following:
- Exact information required in order to process your request
- A comprehensible conversation and quote based upon the information received
- An easy yes or no regarding the possibility of purchasing your mortgage note and the offer price
Timing is Key
At times, a client will approach American Equity Funding with a case that is not cut and dry and a deal can’t be reached at that time for various reasons. However, we strive to be flexible and bring a personable approach to every circumstance and depending on the fluctuation of the real estate and financial markets over time, we review these previous cases. Just because we may not initially be able to work out an offer and present your ideal magic number does not mean we will discard you as a client. On the contrary, the future may be more generous!
For example, we reviewed a quote of a gentleman in his late 50s who lived in Texas and took the risk of trying his hand in the house flipping game, hitting quite the snag. He purchased a house and put his money and efforts into turning it into a beautiful and meticulous structure with plans to secure the profits as a future inheritance for his two children and grandchildren. Unfortunately, it became evident that he was going to barely break even on the project which he felt was unacceptable and non-beneficial and bothered him deeply.
Our client then experienced a second snag, adding complexity and complication to the crisis. As he was trying to sell the note of the flipped house, in order to buy a new note and try flipping again, the payor of his home went bankrupt. This created huge issues with anyone who may have been considering buying the property and note from him. Given the fast pace of the mortgage buying and selling business, the legal issues of such cases are a hassle and not worth the time and money for most note buying companies.