Fuquan Bilal's Blog – July 2015 Archive (3)

Verifying Homeowner Financials and other Essential Information

Being a note buyer means more than notes and cash flow; it also means knowing your homeowner. At any point a homeowner can deny having the money to meet pending payments. Don’t be too quick to take their word or the payment amount they offer. Preparation is everything and checking resources is essential. Request financial information and supporting documentation from every homeowner; this information serves as a reminder…

Who is Required to be Licensed and Where.

Documentation and regulations are the new norm and an important part of note buying and the mortgage business on the whole. Nowadays, certain things can’t be done without the proper licensing, which came about as a result of the economic climate, foreclosures, and other elements. The new licensing requirements are stricter as the government is currently making it their focus and goal to scrutinize and regulate more things. The questions to ask…

NNG Explains Different Agreements

When it comes to the note buyer and the homeowner, the goal is to reach some sort of agreement. As the note holder, you want to get the homeowner to come to a decision and optimally one that signifies cash flow. However, sometimes it isn’t as easy as one, two, three. Every note buyer has encountered at least one homeowner who is struggling with payments either because they just don’t have the money or claim not to have it. Nonetheless, that shouldn’t…