Private Mortgage Notes, or as they are sometimes known, Owner Carry-Back Mortgages, are mortgage-backed promissory notes that result when a seller of a single family home, condo, multi-family residence or other residential or commercial building provides some degree of finance to the new buyer at the time of closing. Such private notes can represent the full amount of the mortgage on the sale (first position notes) or can be for a portion of the mortgage (second position notes) behind a traditional first mortgage lender. Historically, Private Mortgage Notes have been excellent investments but sometimes, holders do need to sell for a variety of reasons. When selling your mortgage through Internationwide, we can offer many flexible options to suit the needs of almost any note seller. Real Estate Professionals and FSBO Sellers
In today's challenging real estate market and economy, Private Owner Financed Mortgage Notes are becoming more widely used and commonplace in real estate sales.