There are mobile home note buyers that will pay you a lump sum amount for your notes, either for the entire instrument or just a portion of it, called a partial buy. More and more people are choosing to sell rather than wait for payments month after month, and it's certainly quicker and easier than getting a new loan from the bank.
Although set amounts of money received regularly can be quite appealing, there comes a time when you might be considering retirement, or perhaps you have stumbled upon an incredible investment opportunity. Maybe you want to pay off a large, outstanding bill. Whatever the case may be, you might want to talk to a mobile home note buyer about selling your paper to get the immediate cash you need.
The good thing is you don't have to sell the entire note; rather you can sell just a portion of it and retain the subsequent monthly payments. For example, let's say you have a $50,000 note, but you only need about $20,000 for a new investment. You can sell $20,000 worth of payments, however many months that works out to be, and after that period you resume receiving your monthly income. A reputable mobile home note buyer will go over all of your options with you so you can figure out if a full or partial sale makes sense for you.
How much will you get for your mobile home notes?
When it comes to putting a dollar value on your paper, mobile home note buyers will take many things into consideration. Some of these include: whether it is with or without land, the overall value, the interest rate, the remaining term, timeliness of payments to date and the financial stability of the payor. Using all of these criteria as well as a few others, the mobile home note buyer can arrive at a fair price for your note.
It helps to keep careful records of everything and have your paperwork in order so that you're not scrambling when it comes time to sell your mobile home notes. The more detailed information you can provide the better off you'll be.
Does it always make sense to sell? Put simply, yes, because as the old saying goes money today is worth more than money tomorrow. What does this mean? Well due to inflation and the uncertainty of what the future holds, $10,000 today can buy you much more than it will in 10 years. So even though the lump sum you receive is less than the total amount remaining, it is a guaranteed payment that removes all of the risk exposure of carrying a note for 5-10 years.
So if you're looking for a quick source of cash, talk to a qualified, professional mobile home note buyer today and decide what works best for your financial situation.
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