Comments on: Real Estate Dealers Sell Owner Financed Notes to Pay Taxes - The Partial to the Rescue! http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/ Find seller financed properties, owner will carry, carry paper, benefits of owner financing, defer capital gains, what is my note worth, sell my note for cash, land trusts, avoid short sale or foreclosure; Pasadena, Temple City, Alhambra, San Gabriel, Arcadia, Sierra Madre, El Monte, Rosemead, San Marino. Sell my note for cash Thu, 4 Dec 2008 03:36:59 +0000 http://wordpress.org/?v=2.3 By: Dawn Rickabaugh http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-371 Dawn Rickabaugh Thu, 05 Jun 2008 16:43:09 +0000 http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-371 Hi Alan, Thanks for stopping by, and these are great questions. What happens when a Payor defaults is that the note holder forecloses (in California and other trust deed states)in order to sell the collateral to satisfy the lien. If the Payor defaults during the 30 month period, then there is a separate agreement between the Note Seller and the Note Buyer stating how the funds will be distributed. It is whatever they agree to. The Note Buyer didn't buy the whole note, so it would not be fair for him to get the full payoff in case of default. The Note Buyer is entitled to get the yield he bargained for plus maybe a premium for servicing the foreclosure, and the rest goes to the original Note Holder/Seller. Hi Alan,
Thanks for stopping by, and these are great questions. What happens when a Payor defaults is that the note holder forecloses (in California and other trust deed states)in order to sell the collateral to satisfy the lien.
If the Payor defaults during the 30 month period, then there is a separate agreement between the Note Seller and the Note Buyer stating how the funds will be distributed. It is whatever they agree to.
The Note Buyer didn’t buy the whole note, so it would not be fair for him to get the full payoff in case of default. The Note Buyer is entitled to get the yield he bargained for plus maybe a premium for servicing the foreclosure, and the rest goes to the original Note Holder/Seller.

]]> By: Alan Bardwell http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-358 Alan Bardwell Tue, 03 Jun 2008 18:57:22 +0000 http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-358 Let me restate my previous question....If I buy the next 30 payments of the rehabber's note for 30K,...and the borrower - the person making the next 30 payments to me - stops paying, what recourse do I have? What happens to the rehabber? What happens to the borrower? Let me restate my previous question….If I buy the next 30 payments of the rehabber’s note for 30K,…and the borrower - the person making the next 30 payments to me - stops paying, what recourse do I have?

What happens to the rehabber?

What happens to the borrower?

]]> By: Alan Bardwell http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-357 Alan Bardwell Tue, 03 Jun 2008 18:51:59 +0000 http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-357 What happens if the borrower - the person making the payments - stops making them? What recourse do I have? What happens if the borrower - the person making the payments - stops making them? What recourse do I have?

]]> By: Dawn Rickabaugh http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-351 Dawn Rickabaugh Mon, 02 Jun 2008 17:42:58 +0000 http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-351 Irina, as always, thanks so much for the feedback! And for the mortgage referral last week. You're really a great resource in the area. Irina, as always, thanks so much for the feedback! And for the mortgage referral last week. You’re really a great resource in the area.

]]> By: Irina Netchaev http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-347 Irina Netchaev Sun, 01 Jun 2008 16:26:33 +0000 http://notequeen.com/2008/05/31/real-estate-dealers-sell-owner-financed-notes-to-pay-taxes-the-partial-to-the-rescue/#comment-347 Dawn, WOW! This is very interesting. I have been learning so much about notes thanks to you! Dawn, WOW! This is very interesting. I have been learning so much about notes thanks to you!

]]>