I have come across many note sellers that ignore the advice of being prepared. Properly structuring a note for resale can be the difference between selling the note fast and with little friction as opposed to selling yourself short or worse,not selling the note at all. In order to properly structure a mortgage note for resale is as follows:

1) Get the biggest down payment possible. 25% is the Note Buyer’s ideal amount in a perfect world although,you can definitely get away with 15% – 20% if need be. Anything under 15% equity becomes very risky for a Note Investor. In the case of a down payment under 14% equity,you will have a very tough time getting a high bid on that note. Anything under 10% down,will unlikely sell at all.  -!

2) Make sure you (the seller),pull credit on the potential borrower. 600 FICO score – 700 FICO score would be ideal. Remember; the worse the credit score is,the bigger the down payment you should require! Make sure you keep a copy of the credit report so you may present to the mortgage note investor underwriting the transaction. As far as credit scores,650 or higher is considered great to excellent credit. 610-649 is good,609-590 is fair 589-500 is poor and below 500 – don’t even bother. Also try to gather D.T.I. or Debt to Income information from the borrower as well. How much money she/he has coming in per month verses what dollar amount is going out per month. A standard credit report will show you what the borrowers monthly bills are. All you need to do after that is get an accurate dollar amount of what the borrower truly makes after taxes. This way there will be no surprises for you or the Note Investor and this will insure you the highest bids out there! 45% is the max D.T.I. ratio you should allow. This means,if the borrower’s income is $5,000.00 per month,45% DTI ratio would be $2,250.00 (5,000 x 0.45 = 2,250.00) in debt per month. The borrower only owes 45% of what they make to monthly debt.  -!

3) It helps tremendously if the seller orders and completes an appraisal before submitting the note to a Note Buyer. The reason being,presenting an exact legal appraisal to a Note Investor allows for a more accurate bid,thus a hassle free transaction. This way when the note is underwritten,there will be no surprises on the collateral property whatsoever. This step is not necessary although,by doing this your are drastically increasing your chances of a very smooth note sale.

4) Include a high interest rate with the shortest term possible. Meaning,be sure that your borrower can afford the payments at the shortest term she/he can legitimately agree to.

5) Try to keep the loan under a 10-15 year payback date. Anything over 12 years usually takes a much steeper discount then say a 10 balloon. The Note Investor generally likes to be out of an investment in 5-10 years. Ideally,if your borrower situation permits,5-10 is the first choice. 

6) Include a prepayment penalty based on your states regulations and laws.  -!

Please keep in mind; the above information is just a guide. If you have any legal questions about mortgage origination laws in your state,please consult a licensed mortgage broker/banker (in your state) or an attorney. Always be prepared!

Knowing this info before hand is the difference between a smooth transaction and a complete nightmare! Good Luck!

A Plan of Service plays a vital role in a memorial. Not only does it make certain that your invitees are well-informed but it also functions as a quick guide to help them through each part of the day.

Gone are the occasions when a Funeral obituary Order of Service was merely a simple itinerary of the function.

Nowadays many friends and families use a Funeral obituary Order of Service to pay their respects including as the utmost tribute including celebration of their loved ones life in a brochure that will be prized including always kept by each invitee.

At - we have many Funeral Order of Service layout designs that we can show you including give you all of the support you need to develop a personalised Funeral Order of Service.

Tips including Assistance

• The key to a fantastic Order of Service is straightforwardness.
• For the front cover all you need to do is incorporate the following info
• Name of the person you are there to memorialize,the date,venue including locationPicking the amount of pages you need for the inside elements relies totally on your wishes,the main things to involve are:
• A paragraph about the individualA checklist of close household membersA schedule of the dayAny other locations such as the wake locationReadings,verses or worship songs,any music and songs pickedA thank you note to your invitees at the end

For a memorial order of service it’s nice to have a picture of who you are celebrating on the front cover,though it’s also a nice touch to incorporate a compilation of photos in the middle or at the end.

The rear cover is often forgotten about when developing but it’s always nice to make use of it by adding a message from a poem or a motivational quote that will touchingly sum up the event.

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