The Basics of Bankruptcy

The Basics of Bankruptcy   In the note business, understanding how bankruptcy works is a must. The process usually lasts about five years, sometimes three years. Once the homeowners are in bankruptcy, they will be making regular payments. The moment the homeowners file for bankruptcy the court will see how far they are in arrears (missed back payments), and they will divide that by 60 payments for the length of the bankruptcy. There are a couple of sides to bankruptcy such as different stages and whether the homeowners were or continue to be...

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The Value of Emotional Equity

Upside in No Equity?       When new to the note business, one tries to figure out the way to success and, for the majority, how to incur the least amount of risk in the process. There are three types of notes in this business, which are high equity, partial equity, and no equity notes. New note buyers generally like high equity notes and fail to see the upside potential of no equity notes. Most note buyers think about the gains that are more obvious, and give no consideration to the potential gains from emotional attachment.   Around 2007,...

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It’s not who you know, its who knows you!

Networking   This “so called” myth about networking and success is, in fact, no myth at all. Networking is key and has helped most of the big companies reach their goals and get to where they are now. How many times have you heard about something through word of mouth? You probably cannot even count because the number is too high. If you step back and take a look at Facebook, Instagram, Twitter, and other social media sites you will realize that networking is all around you. To get to those thousands of likes and followers you have on...

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Why do Homeowners Refinance?

Why Refinance? NNG Explains   Wonder why homeowners like to refinance their mortgages? The reasons vary between homeowners but tend to be similar. Some homeowners refinance their mortgages because they simply want lower rates. However, as of July 2014 the average mortgage loan rate for a conforming 30­year­fixed rate mortgage has only increased from 4.28% to 4.32 according to the Mortgage Bankers Association (MBA).   Reducing mortgage rates is just one of many reasons. Another reason is either to shorten or to extend the term of a loan. With...

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Who says bad can’t be good?

Who Says Bad Can’t Be Good When Note Buying?   NNG Targets Non­Performing Residential Mortgage Notes for Cash Flow. As most of us know, growth comes with responsibility. Unlike the Barbie and Ken dolls most children played with, our dream houses come with a cost and they can vary in expense. In addition to the primary mortgage loan, many homeowners take out an additional mortgage on their property, at which point money management can become tricky. Does it have to be this way though? Absolutely not. Our company National Note Group (NNG)...

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Tracking your Data for Success

Tracking Your Data Well for Predicted Success   Tracking Pre-­Purchases in Different Ways   People always stress preparation and with reason. Being organized is really the window to an organized mind. Think about it; most people feel like a mess when they are out of control or lacking control in a situations since it is a type of organization. Preparation, control, and organization might not precisely mean the same thing but they all tie together one way or another. We emphasize these words because in note buying you use all three. When you...

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