Here Are Some Examples Of How IL Note Holders Can Get Creative In Turning Future Payments Into Cash Today.
There are lots of different ways you can structure the sale of all or part of your note, here in IL and the surrounding states, to help you get the cash you need on your terms. As you know, there’s a tradeoff of time vs. money when selling your mortgage note. The known vs. the unknown. These 2 examples below help walk through a couple scenarios to give you an idea of some of the options you have to sell your note to Global Abundance LLC, one of IL‘s trusted note buyers.
Example #1 – Sell Part Of The Future Payments To Us, And Keep The Rest
Maybe you want all or most of your principal that is stuck in the note returned to you… but you still want to keep a hold of some of the future payments in this note as well for the added return over the term of the note.
Let’s say you have a first position $100k private mortgage at 10% for 10 years with 8 years remaining and you’re receiving monthly payments of $1,321.51.
You can sell 43 payments to Global Abundance LLC for $39,777* in cash today, then you’d receive the mortgage back after those 43 payments… and you can continue to collect the remaining $43,609 on the note.
Example #2 – Sell All Of The Remaining Payments On Your Private Note
Maybe you are just ready to move on and regain control over the cash locked inside your note… and selling all of the remaining payments and being fully released from the burden of the administration of that note is the right fit for you.
Let’s say you have a second position $50k private mortgage note at 10% for 20 years with 10 years remaining and you’re receiving monthly payments of $482.51. But the borrower has been late on their payments… and even missed a few payments recently and you just don’t want to have to worry about chasing them for payments or foreclosing on the note.
You’ve already received your principal back plus some, and you’re ready to move on.
You can sell the remaining 120 payments to Global Abundance LLC for $35,424* in cash today and be completely rid of even having to think about that note or the payments being made ever again. We’ll take the note over, any collections headaches, and if the borrower stops paying… that’s our problem NOT yours.
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* The purchase amounts in the examples above are for illustration purposes only. See what we can offer you on your IL note today by calling (800) 953-2124 or submit your info in the short form above to get started.