There has never been a better time to sell a KY mortgage note or promissory note, so if you’re wondering “Can I sell a private mortgage in Northern Kentucky or Cincinnati?” the answer is: you absolutely can!
Interest rates are very attractive right now, but that could change at any moment, and interest rates could start climbing any day now. (We at We Buy NKY Houses are always paying attention to interest rates and their impact on mortgage values).
The market value of a mortgage note is inversely related to the value of the general interest rate. In other words, if interest rates go down, the market value of a mortgage note goes up. But when interest rates go up, the value of your mortgage note goes down – which is the situation we are currently facing right now.
Selling your mortgage note can be a way to avoid the risk of a borrower defaulting, or it can simply be a way to quickly liquidate an asset into usable capital.
Can I sell a private mortgage in Northern Kentucky or Cincinnati?
Obviously, you want to get the most you can for your mortgage note, promissory note, real estate note, or other similar real estate paper investment.
When it comes to maximizing your profit, timing is everything: Wait only a few days too long and the value of your KY real estate note could plummet because interest rates increased before you took action!
Even mortgage notes where the payments have not been regularly paid by the borrower are eligible to be sold.
If you believe that interest rates are going to go up soon (and the Magic 8 Ball says, “All signs point to ‘Yes!’“) then you should consider selling all or part of your private mortgage or real estate note for cash.
Here’s the next step:
Determine the cash value of your private mortgage
First of all, don’t expect to get the actual principal from your mortgage. However, you will be able to get a large offer. Here are the factors used to find out the worth of your mortgage note:
- Underwriting pay history (credit rating of the borrower)
- Property appraisal
- Clear title
- First position
- Date, amount, and interest rate of remaining payments
- Length of the mortgage term
- Down payment amount placed on the note
The benefit of selling your private mortgage payments for cash is obvious.
Cash can be used to pay off debt, invest in other investments with a higher potential yield, or simply spend it on things you need, such as a home, cars, tuition payments, and so on.
Practically every mortgage note can be sold for cash – even those notes where the payments are not being made on a timely basis.
You can get a FREE “CASH OUT” QUOTE on your private mortgage by contacting We Buy NKY Houses today at (859) 412-1940 or by filling out the brief form on our website.
This makes selling your mortgage note for cash an especially attractive option if you are having collection problems or if you potentially are facing foreclosure on the property.
So, how can I sell a private mortgage in Northern Kentucky or Cincinnati?
It’s never been easier. If you want to sell a private mortgage before interest rates go back up, now is an excellent time to do it.
If you’re ready to sell your mortgage note but don’t know where to start, and if you have questions such as: Can I sell my owner financed home? How much can you sell a mortgage note for? Can you sell a mortgage? Then give us a call. Our Real estate experts will be able to answer any questions you have about the process, can make recommendations for mortgage note purchasing companies, and may be able to provide you an offer over the phone!