Buying a mortgage note means you are buying the , not the property . You become the lender, collecting monthly payments and holding the right to foreclose if the borrower stops paying.
Notes are bought at a discount to the "Unpaid Principal Balance" (UPB). how to buy a mortgage note from the bank
Run a title search to ensure there are no superior liens (like unpaid taxes or IRS liens) that could wipe you out. 4. Make an Offer Buying a mortgage note means you are buying
The contract governing the trade.