Yes, American Equity Funding (AEF) owns the notes we purchase and we receive the payments. In many cases, however, we either broker the note to a bank or some other corporation. The payments then go to the new buyer and American Equity Funding simply ensures a smooth process.
Banks are not typically set up to deal one-on-one with note sellers and do not want to deal with compiling the needed documentation. Therefore, they rely on American Equity Funding or other companies like us to be a resource in finding and providing properly documented notes. The note seller also greatly benefits from our services.
The process of selling an owner financed note without help can be very stressful and difficult, especially for first-time note sellers. American Equity Funding prides itself in fast, friendly, and exceptional service!
We recently closed a note for a customer in less than 2 weeks, including the signing of the contract to the seller receiving funds. In this case, credit must also be given to the note seller who quickly provided a well-documented package. Amazing things happen when we work as a team! American Equity Funding chose to keep and service this note.
Another note seller had more than one note he wished to sell. He was a repeat customer and we knew he was serious about his need to sell quickly. He called on Christmas Eve and stated that he needed to finalize before the end of the year for tax purposes. This was an unusual situation and the note seller had done his due diligence in preparing.
We called in extra help and worked diligently through most of the holiday, finalizing the transaction on January 30th and meeting the deadline. Needless to say, the note seller was extremely excited! American Equity Funding chose to broker this purchase to a corporation from out of state who was very happy with the purchase.
These examples illustrate our commitment to excellence for every client.
Please call American Equity Funding at 1-800-874-2389. I welcome the opportunity to speak with you!
President of American Equity Funding