We
buy the following (click to go to appropriate submission sites or call
us):
1)
First
position mortgage notes or deeds of trusts (usually close in less than 2 weeks
upon full receipt of all required information.) Current
quotes are 55 - 85% of unpaid principal balance for most notes;
qualification varies based on credit score of the payor, seasoning of
the note (i.e. length of time in repayment), location and type of
property, whether owner occupied or an investment property, and
numerous other variables. Ascertaining today's property value
is our greatest task in purchasing mortgage notes in today's market.
2)
Second
position mortgages notes or deeds of trust if the combined loan to value [(first + second) /value of property*] is
less than 80% (usually close in less than 2 weeks upon full receipt of
all required information.) Current quotes are difficult to
estimate since the combined loan to value (CLTV) is our most important
consideration.
3)
Annuity
contracts that are
transferrable (usually close in less than 2 weeks, upon approval of
insurance company.) We also provide and coordinate all three
(3) required refusal letters for those Elder Law Professionals who are
preparing their clients to qualify for Medicaid. We work with
our member associates to coordinate all letters and provide such with a
three (3) business day turn-around.
4)
Structured
settlements (usually it takes 1.5 – 3
months to close due to I.R.S. required need for approval by
court.) We pride ourselves in consistently providing higher
quotes and better one-on-one service to close and funds these purchases.
5) Lotteries (usually close in less than 30
days.) If circumstances have changed after a person has
selected a pay-out over a number of years, we can purchase any amount
needed by the lottery winner. (If we could all be so
lucky!)
6)
Credit
Tenant Leases** (usually
close in less than 30 days.) Credit tenant leases are those
leases paid by corporate tenants who have been rated by Standard
& Poor's or Moodys. It is NOT an individual or small
business.
7) Factoring We fund accounts receivable, purchase
orders or pending contracts of all sizes of commercial
businesses. Please contact us by phone or email.
This usually takes just a week or so to set up and can be on-going on a
monthly basis. Most of our factoring clients have found that
in today's credit crunch, their lines of credit have been reduced or
eliminated and in order to provide cash flow to pay wages and expenses,
they must rely on their accounts receivable, purchase orders,
contracts, and even merchant credit card average receipts. We
have many solutions to fit most business' needs.
We also
accept accredited investors to our mortgage note pools or private
investors for one-on-one repurchase of mortgage notes. Please go to our affiliate website, PrivateMortgageAssociation.com
*Property
Values: All offers for mortgage
notes or deed of trusts will be based on TODAY’S value of the property,
NOT the sale price of the property. We calculate TODAY’s value through
several means: a)
initial review at www.realquest.com;
b) request for broker price opinion after a contract is entered; and c)
our due diligence after a contract is entered of the existing
circumstances of the neighborhood, considering all preforeclosures,
foreclosures, bank-owned (REOs), recently sold properties, and the
number of active properties on the Multiple Listing Service including
list prices and incentives.
**
Credit Tenant: A Credit Tenant is a
tenant which holds a high rating by Standard
& Poor’s and because of such, the lease is of
sufficient credit worthiness, that the future stream of lease payments
may be purchased at today’s value.
