Note Buyers

How do I locate legit note buyers that perform double closings. Does anyone have any experience doing deals in this manner?

Thanx,

Keven

Comments(5)

  • durabond59th June, 2005

    The equity is from a permanent residence. The loan is 30 yr. fixed. The investment would be at least two years. My predatory broker likes to give out optomistic advice.

  • BMan9th June, 2005

    HELOC.............you only pay when it is used and with some now you can lock the rate after you hav used it .
    Why touch your first. A HELOC should cost very little to do.

    Good Luck
    Brian

  • durabond59th June, 2005

    Thanks B. Can you give me an example of the fees, rates and costs and monthly payment of a good HELOC.

  • BMan10th June, 2005

    For a loan of that size check with your local bank. On a larger loan a broker may be the way to go.
    A good rate will be anything near prime rate. prime + margin is how they will be quoted the better the scores the lower the margin. Prime is currently 6%

  • cjmazur10th June, 2005

    check out www.penfed.com

    https://www.penfed.org/index.asp prime -.5, easy membership and approval, and you might be able to go to 90% CLTV.

    also check out local CUs, there is a local one offering prime only w/ 3.99 intro for 6 mo.

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