The dog days of baseball are about to begin as the players try to stay focused and healthy as they prepare for the last 60 games of a marathon 162 game season. Trades are being made, players are being rested, and bullpens are being bolstered, all with the goal of getting into the playoffs and having a chance to appear in the World Series.
In the note business, our dog days have arrived as well. Kids are out of school for another 3-4 weeks, working people are on vacation, and a lot of note holders will just wait for summer to end before getting serious about selling their note. Transactions are closing, but activity is down, as we prepare for the bull rush and final months of the year.
So, if you hold a note you may want to sell before the end of the year, you just might want to take a few minutes now and locate your file. Make sure you have your original note and recorded deed. Is your hazard insurance policy current and in force, with you listed as payee? Do you have proof of receipt of all your monthly payments? Is your Title policy and closing statement in your email or paper file?
Spending 5-10 minutes today will make it easier for you when the time comes to present your documents to a note buyer.
In the meantime, enjoy your summer!