When it comes to selling mortgage notes, people have many different needs and reasons to sell compared to others. Whatever the reason that you want to sell your mortgage note, you definitely have some options. In addition to private buyers and consultants, there are a variety of financial institutions that are eager to buy your mortgage note. Here at Mutual Investment Holdings we work with numerous funding sources to get you the money you need quickly at the best pricing possible today.
If you are considering selling your note, see if your reason is on our list of…
Top 21 Reasons For Selling Mortgage Notes and Trust Deeds
1. Mounting Medical Expenses
Even with a quality health insurance, one trip to the hospital could send you on the path to financial ruin. The cost of surgery, physical therapy, follow-up visits, and ongoing treatments could set you back several thousands of dollars in a very short amount of time.
2. Taking That Vacation
Rather than wait until retirement to be able to take that dream vacation, many folks are cashing in their mortgage notes and taking the vacation of a lifetime while they are still young and able to enjoy fully.
3. Child’s College Tuition
Many families are unable to put money aside for their children’s college education, then find 20 years has slipped by in the blink of an eye. Cashing in the note provides them instant access to funds to allow the child to further their education.
Whether there is no retirement account or the funds were utilized to pay for other expenses, the selling of the mortgage note allows a retiree to have access to an abundance of cash they can use to enjoy their later years more comfortably.
5. Sudden Splurge
Perhaps you have been putting off buying something for yourself, and now you finally cannot wait any longer. Freeing up cash by selling mortgage notes means you can finally go on that shopping spree for yourself without any of the guilt.
6. Child’s First Car
A few decades ago when this generation was learning to drive, the cost of a quality used car was around $1000. Kids today need cars packed with safety features to ensure they are protected while driving, and the used cars of today are not cheap at all.
7. IRS Tax Bill
Make no mistake that when Uncle Sam says that you owe back taxes, you had better make this priority one. If an audit reveals you owe a substantial amount of money, liquidating the note will allow you to avoid hefty fines, penalties, and interest associated with a tax debt.
8. Catching Up
One way folks are spending the cash they make from the sale of a trust deed is catching up on years that they did not invest in the stock market or retirement accounts. Putting the money away now will ensure there is plenty in the future to survive on.
9. Purchase A New Home
When the opportunity to buy a dream home is presented, you have to act fast before it is sold out from under you. Getting a lump sum of cash to use as a deposit on a home or to pay in full is just another way to invest in the future.
10. Home Remodeling
Even smaller homes today cost a fortune to remodel. Gutting a kitchen can cost several thousand dollars, not to mention if the entire house needs to be worked on. Each room increases the construction costs before any unforeseen issues even arise.
11. Estate Settlement
Perhaps a person is in charge of handling all affairs associated with an estate, by selling off the real estate note they get access to cash to take care of other issues or to distribute among family members.
12. Lessening Management Burden
The older a person gets, the less they want to have to be dealing with the burden of note management in their later years. Luckily there are plenty of private buyers or consultants eager to take the notes and deal with the added responsibility.
13. Starting a New Business
To ensure a new business gets off to a solid start, selling off the promissory note and using the capital to finance mounting costs is a great way to ensure that the business survives the challenging years ahead.
14. Safer Investments
Many folks who reach retirement age are no longer able to withstand any loss to their retirement investments. Selling off the mortgage note and putting the cash into bonds or gold is a safer investment that will reduce stress while still earning money.
15. Buying a Boat
The two happiest days for a boat owner are the day they buy and the day they sell that boat. Boats are expensive ventures, and the mortgage note money will go a long way in helping to create memorable moments that last a lifetime on the open seas.
16. Financial Stability
Some people just do not like risk, and by converting that uncertain stream of income generated by the mortgage note into a huge lump of cash, you can eliminate the uncertainty.
17. Avoiding Foreclosure
If something were to go wrong in the future with the mortgage, the foreclosure process is lengthy, costly, and stressful. Many individuals who saw the housing market crash want out now before they have to endure the legalities of a potential foreclosure.
18. Paying Off Credit Cards
One of the most alarming statistics today is the average homeowner has $15,000 in credit card debt. Cashing in the note frees up money to pay down credit card debts and eliminate late fees, interest charges, and annual fees.
19. Swimming Pool
The swimming pool is one of those expenditures that not only provide the family years of memorable moments, but it will also instantly increase the value of the home when sold.
20. Child’s Wedding
Helping your child by paying for their wedding costs and giving them something to help get them off to the right start is one of those investments that just keeps on giving year after year.
21. Moving Abroad
Selling the mortgage note and using the money to fund moving abroad will ensure years of living debt free. The cost of living in many countries is extremely affordable, and a lump sum of cash can help provide a happy and healthy retirement abroad.
These top 21 reasons for selling mortgage notes should give you plenty of reasons for considering releasing responsibility of the paper and address concerns like helping your children financially, paying medical expenses, or enjoying retirement.