Re: Finding Notes--courthouse

[ Follow Ups ] [ Post Followup ] [ Cash Flow Forum ]

Posted by Sheryl on November 06, 2002 at 14:34:58:

In Reply to: Finding Notes--courthouse posted by Shyneaj on September 05, 2002 at 17:37:11:

I myself purchase mortgage notes. I don't recommend that you place your ad in the classifieds section of a Large metropolitan newspaper. I've personally found the smaller community circulation MUCH more profitable. Even a Thrifty Nickel,Little Thrifty...there's not the BIG competition there either! There are Many, many daily newspapers in the US that have notes advertised for sale! Listed under classifieds such as Notes & Mortgages, Financial Contracts,or something similar. I've found several by looking through the Legal newspapers. Some of them list All the daily real estate transactions recorded at the couthouse. As you know, you're looking for names & addresses of the buyers & sellers, the closing date,the amt. & terms of financing , etc. The way the information is arranged in the courthouse depends on each individual courthouse!Some you'll have to look through hard copies of lists, others a microfilm, while others are fully computerized! Phewy! I encourage you to ask a clerk at the courthouse to show you how to find "seller financed properties". This is where the lender is actually the seller of the property. You may find, as I did at first, that the staff at the courthouse may not be too friendly or they don't understand what you are looking for. But believe me, the information IS there and IS available to the public at No charge. Just be a little persistent. It will pay off for you! Remember, YOU are the one who will make a lot of money off this information, NOT the clerks at the courhouse. To wrap this up, I'd start my search 6-12 months back and work myself backward. The reason is that a note holder is much more likely to sell his mortgage note after he has collected on it for a year than if it's a brand new note. Second, I would look through the mortgages at the courthouse in chronological order and write down Every private indiviual I come across. If not feasible, I'd go through the alphabetical listing of the mortgagees or beneficiaries, and pull out all the private lenders I come across. Then, I'd go to the recorded documents to find their addresses. The information you are interested in obtaining at the courthouse, as you know, is the seller's (mortgagee's or beneficiary's) name & address from the mortgage( or deed of trust depending upon the document your state uses). I hope this was helpful. So it was so long! Best regards, Sheryl :)

Follow Ups:


Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:

[ Follow Ups ] [ Post Followup ] [ Cash Flow Forum ]

WWWBoard 2.0a and WWWAdmin 2.0a © 1997, All Rights Reserved.
Matt Wright and DBasics Software Company