How To Buy A Mortgage Note From The Bank -

Don't call the local branch teller. You need the decision-makers: Ask for the . Request to speak with the Secondary Marketing Manager . Ask for the VP of Asset Management . 3. Vet the Note (Due Diligence) Before sending money, verify these three pillars:

Review the original Note and Deed of Trust. Ensure the "chain of assignment" is unbroken.

Look for those with high "non-performing loan" ratios. 2. Connect with the "Gatekeeper" how to buy a mortgage note from the bank

Large banks (Chase, BofA) rarely deal with individuals. Target smaller institutions:

Get a Broker Price Opinion (BPO) or drive by to check the condition. Don't call the local branch teller

💡 Start by searching for Note Brokers or online marketplaces like Paperstac or NotesDirect . It is much easier for beginners to buy through a platform than cold-calling banks. If you'd like, I can help you: Draft a script for calling bank asset managers. Explain the difference between first and second liens . List the specific risks of buying non-performing debt. Do you have a specific budget or geographic area in mind?

Can sell for 30%–60% of the property value, depending on the equity. 5. Close the Deal Ask for the VP of Asset Management

Notes are bought at a discount to the "Unpaid Principal Balance" (UPB).