A recent look at home buyers’ financing profiles shows that 88% of all buyers finance their purchase. Mortgages come in all shapes and sizes, with varying financing options available. So many options, in fact, that navigating the world of mortgage notes isn’t always easy.
The Emergence of Mortgage Notes
The economic recession of 2008 had a wide and far reaching impact on homeowners. Many people were forced out of their homes as the need to cover everyday expenses trumped that of making a regularly scheduled mortgage payment. As a result, many homes were left abandoned and fell into disrepair. Private, seller back mortgage notes emerged as a way to facilitate post-recession home sales. Benefiting both the buyer and seller, it’s no secret this traditional mortgage alternative continues to rise in popularity. Continue reading