Can I sell a mortgage note?
August 28th, 2008 By Peter G. Miller
Yes. The question is at what price.
Example. You sell a home and take-back a $10,000 note at 8 percent over 10 years.
If investors want a 10 percent return, they would offer to buy your loan for less than $10,000.
But, it could happen that 8 percent is a premium rate. If investors can otherwise obtain only a 6 percent return, then a note at 8 percent will bring a sale value of more than $10,000.
For specifics, speak with a mortgage broker.
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