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Pile of cash from selling mortgage note

What is a Promissory Note and Can You Sell Yours for Cash?

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If you’ve ever sold property using owner financing, or if you’ve received payments on a real estate loan, then you likely hold what’s known as a promissory note. But what exactly is a promissory (or mortgage) note, and more importantly, can you sell your note for cash? In this article, we’ll take a deep dive … Continued
IOU note sticking out of wallet

The Promissory Note: A Binding Promise or a Fancy IOU?

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Imagine lending your friend $500 to start his artisanal chocolates business. You trust him, but you also remember that time he “forgot” to return your favorite Tupperware. Enter the promissory note—a document that says, “I trust you, but let’s put it in writing.” What Exactly Is a Promissory Note? A promissory note is a written … Continued
Super hero of finance

Why Real Estate Note Buyers Are the Unsung Heroes of Land Finance

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In the world of real estate finance, there’s a lesser-known power player making quiet moves: the real estate note holder. When someone holds a mortgage note, deed of trust, or contract for deed, they’re the one receiving monthly payments instead of a bank. Sounds great, right? Regular passive income, straight to the mailbox. But sometimes, … Continued
angry man looking at mortgage note allonge

What is an Allonge to a Mortgage Note?

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Let’s be honest—“allonge” sounds like something you might order at a fancy brunch spot, not a critical part of a mortgage transaction. But if you’re diving into the world of real estate, especially the wild west of selling your mortgage to get cash, this unassuming slip of paper deserves your full attention (and maybe even … Continued
selling my mortgage note MI

Can I Sell A Private Mortgage In MI?

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There has never been a better time to sell a MI mortgage note or promissory note, so if you’re wondering “Can I sell a private mortgage in Lansing MI?” the answer is: you absolutely can! Interest rates are very attractive right now but that could change at any moment, and interest rates could start climbing … Continued

Unsecured vs. Secured Promissory Notes: A Comprehensive Guide

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Promissory notes are vital instruments in various financial transactions, representing a borrower’s legally binding promise to repay a debt to a lender. These notes outline the terms of the loan, including the principal amount, interest rate, repayment schedule, and any applicable penalties for late payments or default. However, not all promissory notes are created equal. … Continued