Sometimes a private mortgage can be more hassle than it is worth. There are actually many good reasons to sell your mortgage, and all of them truly benefit the seller of the note.
1. The first good reason to sell a private mortgage is that you will receive the cash immediately upon settlement with the mortgage note broker. This means no more waiting for monthly payments to come through. Not to mention the hassle of late or missed monthly payments. All of that stress will be eliminated as it becomes someone else's problem, not yours.
2. Maybe you would like to pay off your own mortgage? If the value of the mortgage is near to or equivalent, or even better, more than the value of your current mortgage, then one great thing you can do with the cash is pay off your own mortgage. Really, nothing feels better than paying a mortgage payment for the last time.
3. If you have some annoying small or large debts, or taxes, then the cash from selling your mortgage can go a long way to reducing these debts. It is so important to reduce those debts that have the highest interest rates first, and selling your private mortgage can help you do this.
4. With the extra cash from the sale, maybe it is time to look into some investment opportunities. Maybe you have had your eye on a solid investment opportunity, but have just never had the money to get started. Selling your mortgage note may just give you the leg up you need to kick off some quality, good incoming producing investments for your future needs.
5. If you have sold your mortgage note, cleared some debts and paid a few bills and there is some money left over, then nothing will be stopping you from taking a vacation. Maybe you have always had a dream holiday planned, well selling your mortgage note may just give you the chance to live that dream.
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