Note Tip – March 2019

If you are selling a property and agreeing to carry the note, you may want to consider using a third party to service your account. Why? They will collect the monthly payments for you. They will also impound fire insurance and property taxes for you. They will keep an amortization schedule so both you and your buyer will always have accurate information as to the current principal balance, etc. They can deal with your buyer on late payments. And should you decide to sell your note, you will be able to provide the note buyer with a professional accounting of your note situation. The small fee is well worth it, and, if you want, you can have your buyer pay the fee.