FAQs About Selling Your Mortgage Note

Options for Selling Your Note

Here are just a few out of the many options we make available to our note holders.

  • Sell the Entire Note Now
  • Partial Sale / Front End Payments
    Sell the next several years of payments and receive the remaining payments due on the note
  • Partial Sale / Half of Each Monthly Payment
    Sell one half of each monthly payment. Continue to receive payments for the other half

Our specialty is creating a custom fit solution that will match your specific cash needs.

FAQs

1. Why should I consider selling my note?

2. When my note is converted to cash, will this affect the person paying the note?

3. Is the note sale process difficult?

4. How will I receive my money?

5. How long will it take to receive my money?

6. How much will I receive for my note?

7. What states will you purchase notes from?

8. Do you purchase the entire note or can I sell a portion of my note?

9. Does the note have to be seasoned or will you purchase a newly created note?

10. Will Dancik Capital purchase notes with a balloon payment?

11. Do I have to attend the closing?

12. How do I get started?


1. Why should I consider selling my note?
Maintaining a stream of income by carrying a note is a smart move to facilitate the sale of a home or commercial property. Unfortunately, there are some pitfalls that may arise over the term of a note that make selling a note an excellent alternative.

Some concerns are:

  • Collecting payments
  • Abandonment of the property
  • Default and foreclosure process
  • Destruction and devaluation of the property
  • Payor bankruptcy
  • Payor divorce
  • Payor deceased
  • Federal income tax reporting responsibilities
  • Devaluation of note over time as property depreciates
  • Market fluctuations of financed property
  • Economic uncertainty of payor
  • IRS liens/other liens against payor

In the same respect, selling a perfectly performing note can also provide many other positive benefits.

Some additional benefits of securing the cash for your note are:

  • Cash for unexpected bills (medical, home repair, auto, other)
  • Pay off other high interest obligations (credit cards, auto loans, etc)
  • Capital for other high return or secure investments such as stocks, bonds, commodities, real estate and franchises
  • Settlement of estates, divorce, litigation
  • Jump start retirement plans
  • Tuition for children
  • Upgrades to your personal residence
  • Help for other family members
  • Support church, charities and other passions
  • Peace of mind that all your money is back in your pocket

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2. When my note is converted to cash, will this affect the person paying the note?
No. None of the terms of the original note are affected. The payor will simply forward their regular payments to a new name and address. We will provide all the updated information to the payor.

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3. Is the note sale process difficult?
Not at all. Our office will send a complete package to you with clear and simple instructions. We are always available to answer any questions throughout the entire process.

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4. How will I receive my money?
The entire amount agreed upon will be sent to you as a certified check, rush delivery. Will you purchase a second or third position note? Yes. While the value of a lower position note (2nd, 3rd, etc.) is not as strong as the first position, we will consider purchasing the note if the terms meet our minimum valuation criteria.

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5. How long will it take to receive my money?
Most transactions are complete in as little as two to four weeks – from initial review to closing. This time frame may be extended if substantial documentation is deemed to be incomplete or missing during the approval process.

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6. How much will I receive for my note?
Each note that we review and quote is evaluated on its own merits. We closely analyze all of the unique characteristics of each note, such as the type of property, the payment terms, interest rate, credit of the payor and several other dynamics. Identifying these details allow us to offer the maximum cash return possible for your note. Dancik Capital will cover costs and fees and the amount quoted is the amount you will receive.

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7. What states will you purchase notes from?
We can purchase notes from all 50 states.

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8. Do you purchase the entire note or can I sell a portion of my note?
Dancik Capital can purchase the entire note or a portion of the note. We commonly provide several options to consider depending on your financial needs. Our objective from the onset of our discussions is to identify what your cash needs are and to provide the most economical and profitable solution for you.

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9. Does the note have to be seasoned or will you purchase a newly created note?
Either. We can provide funds for brand new notes as well as seasoned notes (seasoned notes are notes that have been in existence for a certain time period and have a history of payments).

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10. Will Dancik Capital purchase notes with a balloon payment?
Yes. A balloon payment can be easily factored in to the valuation and quote for your note.

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11. Do I have to attend the closing?
No. We will manage the closing for your convenience at no additional charge.

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12. How do I get started?
Obtaining a quote is a simple process. You can click on the link below for instant access to your online quote request form:

Click Here for Online Quote Request Form

You can also call our office for a chance to discuss your note details and your financial objectives.

Toll Free– 800-294-7735
South Orange County, CA – 949-943-9099

You can also print a copy of the Quote Request Form from the PDF below.

Download PDF Quote Request Form
FAX – 888-838-2724

Our consultation is free. Our specialists are courteous and patient. We look forward to serving you and respect your financial concerns as our greatest priority.

Matthew Dancik, Founder and President, Dancik Capital Group LLC

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