Flipping Notes - Some Basic Questions
Hi,
is it possible to do with a note something similar to RE wholeselling ?
Let's say i have a note seller and a note buyer. Can i sign a contract with a seller and re-assign it to a buyer for a fee ?
Or does it have to be a double closing ?
Any other options ?
thanks
Victoria[ Edited by velin on Date 03/31/2004 ]
Yes, you can re-assign the note.
mortage notes are not real estate they are commercial paper. They are therefore governend by the Uniform Commercial Code on commercial paper. Any reasonably good college level business law textbook will have a chapter on commercial paper.