Secrets of Paper - The Definitive Note Business Resource
The purpose of the Secrets of Paper is to provide quality information and educational opportunities through superior products and action-oriented workshops. Our vision is to help you to create a rewarding Note Business through specific opportunities, products, seminars, workshops, newsletters and conventions. Each product and event below provides the latest and the most current information to help develop your Note Business knowledge base and encourage you to take a more active role in brokering and investing in real estate secured notes.
The Note Holders Handbook
Produced by Secrets of Paper - the Definitive Source for Note Business Education
Written by Jeffrey R. Armstrong – President/Owner of Armstrong Capital
Your favorite Master Note Buyer – Straightforward, Honest, Fair…
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The Note Holders Handbook
How To Profit From and Correctly Manage Your Real Estate Note A must for someone receiving payments on a real estate secured note. $29.99 Click Here to Order |
In easy to understand language, the many topics that are discussed in the Note Holder's Handbook include the following:
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How much is your note really worth?
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Why record keeping is vital to your note's value
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A simple technique that can avoid tax problems.
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What to do when the payments are late.
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What to do if the payments stop and when to foreclose
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A simple step you can take to verify the safety of your note.
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How to get top dollar if you sell all or part of your note.
The Note Holder's Handbook also includes a Handy Reference Data area to keep all of the pertinent information regarding the note in one place AND a simple to use Payment Record chart to keep track of the payments you have received..
This handbook is a must for someone receiving payments on a real estate secured note.
Table of Contents
Introduction 2
SECTION 1: THE BASICS OF
SELLER CARRY BACK NOTES
3
The Promissory Note
3
The Security Instrument
3
Mortgage
3
Deed of Trust
3
Land Contract
4
SECTION 2: CREATION OF A SELLER CARRY BACK
NOTE 5
Here Is A Typical Example:
5
SECTION 3: NOTE SAFETY
6
Note Safety: Loan-To-Value Ratio
6
Note Safety—Storage
6
Maximizing Note Value—Payment Records
7
Note Problems—Late Problems
7
Note Problems—Delinquent Payments
7
SECTION 4:
SALE OF A SELLER CARRY BACK NOTE
9
Example Of A Note On Which You Are Receiving Payments 9
Some Of The Options Available To The Note Holder 10
Full Sale
10
Partial Sale— Front End Payments
10
Full Sale—Split Funding
11
Partial Sale—One Half Of Each Monthly Payment
11
Tax Reporting For Note Holders
11
SECTION 5: WHAT IS YOUR NOTE WORTH 13
APPENDIX A: GLOSSARY OF REAL ESTATE FINANCING TERMINOLOGY 14
APPENDIX B: THE FORECLOSURE PROCESS 28
Non Judicial
Foreclosure
29
Notice of Default
29
Notice of Trustee’s Sale
30
Trustee’s Sale
30
Rent and Rental Income
31
Trustee’s Fees
31
Special Legal Provisions
31
Judicial Foreclosure
31
Foreclosure Sale
32
Redemption of Property
32
Deficiency Judgment
32
Rent and Rental Income
32
APPENDIX C: AMORTIZATION SCHEDULE FOR A $90,000 NOTE 33
APPENDIX D: BIBLIOGRAPHY 40
APPENDIX E: LOW COST AMORTIZATION SCHEDULE 41
APPENDIX F: FREE PURCHASE QUOTATION FOR NOTE HOLDERS 42
APPENDIX G: PAYMENT RECORD KEEPER 43
APPENDIX H: HANDY REFERENCE DATA 48
