Jared M.'s Blog

Seller-Financed Mortgage Notes - What are they and How Does it Benefit the Seller and Home Buyer?

Jared M. Wiener (JMW Funding Group) — Mon, 08 Jun 2009 21:37:36 -0500

In today's real estate market, its becoming increasingly harder for home owners to sell their property for top dollar in the least amount of time. While many properties are going into foreclosure, there are thousands of homes just lingering on the market whose owners have paid their mortgage on time. These owners are using the traditional method of trying to sell their home, which is engaging the services of a real estate agent. This is includes pictures of your home in the paper and/or on the internet, holding open houses, etc. Although utilizing a real estate agent's assistance is the norm, the problem is that the marketing done on your home most likely will appeal to qualified buyers with good credit. This narrows the pool of prospective buyers coming to view your property because during these economic times, many thousands of buyers have come into financial trouble, thus hurting their credit scores.

So, how can sellers widen the pool of prospective buyers? In other words, how can a seller market his property so that it appeals to the widest audience? The answer is easy. The seller can offer something which is called "Seller or Owner Financing". What this exactly means is that the seller would act like the bank and "loan'" the money to the buyer. This works out perfectly because the buyer would not have to obtain traditional financing by going through a bank, and the seller would receive top dollar for his house. Now, please understand that seller financing does not mean the seller is actually lending money to the buyer to purchase his home. A seller financed mortgage note is an IOU that is created by the attorney of the seller which lays out the conditions of the payment schedule that the buyer must adhere to.This would include the monthly payment amount, the duration of the loan, and the interest. After the transaction is completed, most sellers find themselves not wanting have the headache of managing the monthly collection of payments that are owed but would rather receive a lump sum of cash for their future cash flow payments. Many companies in the cash flow industry offer a service where they can provide a lump sum of cash at a discounted price.

Seller financing a sale of a home makes the buyer extremely happy because the buyer probably could not have bought the property without the financing and the seller has sold his property for the highest price within a short amount of time.

To reiterate, the great benefits of offering seller-financing on a sale of a home are the following:

1) A seller would be flooded with premium offers for the property

2) Eliminate much of the bargaining and haggling

3) Create mutually beneficial financing for the buyer and seller

4) Close the sale in less than a month

5) Customize the purchase to meet the needs of the seller and buyer.

Jared Wiener is the president and founder of JMW Funding Group. For the past several years, JMW Funding Group has pride itself on providing the highest payout for future cash flows such as seller-financed mortgage notes, business notes, structured settlements, lottery winnings and commercial financing solutions. To receive a FREE no obligation quote, please visit on http://www.JMWFunding.com

This Economy Is Fueling Seller Financed Mortgage Notes

Jared M. Wiener (JMW Funding Group) — Thu, 06 Nov 2008 08:57:07 -0600

Drive through any neighborhood in the US and you will see rows and rows of homes for sale whether it is a FSBO or listed with a brokerage firm. Because of the credit crisis and the tightening of bank's lending requirements, a buyer during these economic times, with a good credit are being quoted higher than normal interest rates for a 30 year mortgage or worse yet, not being approved at all, even with a 20% down payment. From the seller's perspective, they see a healthy inventory of homes for sale in their neighborhood so the seller has to get creative and I'm not talking about just lowering the asking price of their home. The seller may offer seller financing to attract a high number of buyers.

This climate calls for seller financing. The buyer can get a good interest rate and the seller needs to sell. It makes a good transaction. Now, more than ever, this economic climate is producing billions of dollars in seller financed mortgage notes. And because of the price of your average grocery bill going up and up, the owner of these notes needs to cash out to satisfy a debt, pay for college tuition for their children or whatever the case may be.

I have been contacted by many real estate agents who have told me that they are acquiring exclusive listings by suggesting that sellers offer their property through seller financing; an idea the seller probably wouldn't have thought of on their own.

It's an extremely busy time in the note business!

A small rental deal- a BIG pain in the rear!

Jared M. Wiener (JMW Funding Group) — Mon, 08 Sep 2008 11:00:48 -0500

What turned out to be a small and simple rental deal, has come full swing into a large nightmare. My clients, who are interested in renting a one bedroom apt, of which I'm only charging a one month fee, has decided after receiving the leases to get an attorney involved. I have nothing against attorneys, in fact some of my best experiences in real estate have been with attorneys, but when you start red lining most of the lease, the will send a HUGE "red flag" to the landlord. Come on folks! It's a rental! You're not buying the place. I have advised my clients that getting an attorney involved to pretty much change the entire lease, may in fact kill the deal.

I can't begin to tell you how frustrated I am! Im dealing with this right now so I'll keep you all informed.

Bottom liine, this is TOO MUCH WORK for such a small commission. ugh!

Can I help it if I'm a great communicator?!!

Jared M. Wiener (JMW Funding Group) — Fri, 29 Aug 2008 09:14:25 -0500

Excellent communication in any business is key but in the world or real estate, its KING! Whether you're an agent, title officer, mortgage broker or a painter working on a first time home buyer's home, we are dealing with people's emotions! Whether purchasing a home or selling a mortgage note, it is an emotional transaction for most and the way to alleviate some of that "anxiety" is to have EXCELLENT communication skills? Why? Because if your client doesn't hear from you for more than 24 hours, their anxiety level shoots through the roof. DO NOT, under any circumstances wait more than 24 hours to call your client, even if you have nothing to report. It's better to give them an update on nothing!

Remember to always put yourself in your client's shoes. Are those shoes comfortable?

Have a client who wishes to sell their mortgage note? Please contact me.

Gorgeous townhomes for sale! St. Martin! Pre-Construction Prices! $433,500

Jared M. Wiener (JMW Funding Group) — Thu, 28 Aug 2008 14:54:12 -0500

Beautifully designed 4 bedroom Townhome. 6 units available with stunning views of crystal blue waters. ALL UNITS CURRENTLY BEING OFFERED AT PRE-CONSTRUCTION PRICES! RESERVE YOUR TOWNHOME TODAY!

Energy efficient with truly green elements and innovatively designed.

This beautiful townhome will feature energy saving LED light bulbs, the highest energy saving light bulbs on the market. Renewable energy from the sun is used throughout each unit to reduce energy consumption. The passive solar design of the building (i.e. windows, shading, mass, orientation) maximizes the absorption of light throughout the towhnhome while shading blocks the heat of the sun. This design optimizes comfort throughout the seasons, while reducing your energy consumption.

New Technology
The Units well feature remote home energy management, which gives consumers the ability to remotely turn lights on/off, control appliances, and even adjust the thermostat - all with just the click of a button. You can perfectly tailor your unit energy consumption for maximum efficiency or preference, anytime, from anywhere.

Water
Grey water recycling system used to flush toilets and high performance low flow shower heads will drastically reduce the water consumption of each home owner. Every unit is connected to a water harvesting cistern to accommodate less water from the utility.

Energy Savings
All units are equipped with expansive super energy efficient windows. The townhome is made with a pre-form concrete building system that ensures better quality, faster construction and reduced waste during construction. Flexibility This 3-story EcoTownhome is designed to accommodate unit spacing, so to allow for immediate or future mobility upgrades.

Finishes
All units come finished with a warm contemporary interior package, featuring Glass tile flooring, and natural wood cabinetry with glass and metal accents. A multitude of optional finish upgrades are available.

Located on beautiful island St Maarten/St Martin proudly known as "The Friendly Island" is a tropical island in the North East Caribbean, East of Puerto Rico. The island is well-known for its friendly people, abundant nightlife, and beautiful beach. St Maarten has the adage of being the Caribbean's most exciting tourist destination. It is the most cosmopolitan island on Earth consisting of two nations.

Only 6 units being offered. They will go very quickly. Call today to schedule a viewing. 917.673.7745
Jared M. Wiener

Seller Financing? Yes!! It's the way to go!

Jared M. Wiener (JMW Funding Group) — Wed, 27 Aug 2008 17:42:24 -0500

Property sitting on the market too long? Agents are encouraged to introduce the idea of seller financing to all the FSBO's out there. So MANY do-it-yourself sellers have no clue on how to properly sell their home, and when it sits on the market, they wonder why. You can't save enough in commissions than hiring an expert.

A great angle to take when calling FSBO's is to "advise" them on offering their property using seller financing. By a seller offering this creative way of selling their property, the seller is saying that they will finance the deal after the buyer pays the standard 5% to 10% down payment. This will attract a large pool of buyers that do not have the best credit score to obtain a mortgage privately through the seller and not have to go to a bank.

This is a win-win-win for everyone involved. Why?

1) The seller has sold his/her property quickly

2) The agent who advised the seller on offering seller financing has given the listing to that agent.

3) Once the deal is done, the seller can sell his future cash payments on the note for a lump sum of cash.

There are literally billions of dollars of seller financed notes in the marketplace. More so now then ever before due to the overwhelming inventory. Essentially, sellers almost need to offer seller financing during these times. It's the way to go!!

Seller Financing? Yes!! It's the way to go!

Jared M. Wiener (JMW Funding Group) — Wed, 27 Aug 2008 17:37:23 -0500

This is a win-win-win for everyone involved. Why?

1) The seller has sold his/her property quickly

2) The agent who advised the seller on offering seller financing has given the listing to that agent.

3) Once the deal is done, the seller can sell his future cash payments on the note for a lump sum of cash.

Gas prices a real concern for real estate agents! It is for me!!

Jared M. Wiener (JMW Funding Group) — Wed, 27 Aug 2008 16:18:25 -0500

I can't help but think that every time I turn the ignition in my car to go meet a client for a showing, that its costing me so much money in gas! Because gas prices are at the level of insanity right now, I always hope that my client says YES on the first showing. Ha! Wishful thinking..I know! But I almost want to tell my client that this is a one shot deal. I'm not wasting my gas to show you this property again.

Dont get me wrong. I love being an agent and an owner of a mortgage note biz, but I'm all gassed up about gas prices! Driving all over town just so you client can say to you "thanks, we'll think about it and let you know" is really getting to me.

1200 ACRES OF PRIME LAND FOR DEVELOPEMENT IN VIRGINIA

Jared M. Wiener (JMW Funding Group) — Tue, 26 Aug 2008 20:40:16 -0500

$6.2m

The property is approximately 1200 acres located in Campbell and Bedford
County. Approximately 726 acres are located in Campbell County and
approximately 491 acres in Bedford County.

**Owner financing available.**

Please call or email if interested. I will arrange a showing.

888.510.7799

Newbie here to AR!! Help with promoting my business!!

Jared M. Wiener (JMW Funding Group) — Tue, 26 Aug 2008 19:30:56 -0500

What is the best way to promote my business with Active Rain? I understand that a profile is very important, but what else can I do on Active Rain?

Can I have two separate profiles for two different businesses?

Also, can someone please explain to me what is localism?

Seller Financed Notes

Jared M. Wiener (JMW Funding Group) — Fri, 15 Aug 2008 11:43:33 -0500

Hello Everyone,

I'm a looking for mortgage note holders who are wanting to receive a lump sum of cash for their note. I am willing to split my commission 50/50 with anyone that refers a note holder to me.

I can be contacted at 917.673.7745 or please send me an email to Jaredmw1@gmail.com

Thank you,

Jared M. Wiener

JDC Financial

Seller Financed Notes

Jared M. Wiener (JMW Funding Group) — Fri, 15 Aug 2008 11:43:24 -0500

Hello Everyone,

I'm a looking for mortgage note holders who are wanting to receive a lump sum of cash for their note. I am willing to split my commission 50/50 with anyone that refers a note holder to me.

I can be contacted at 917.673.7745

Thank you,

Jared M. Wiener