How | To Buy A Mortgage Note From The Bank

This document is recorded at the county level to prove you are the new legal owner.

💡 Start by searching for Note Brokers or online marketplaces like Paperstac or NotesDirect . It is much easier for beginners to buy through a platform than cold-calling banks. If you'd like, I can help you: Draft a script for calling bank asset managers. Explain the difference between first and second liens . List the specific risks of buying non-performing debt. Do you have a specific budget or geographic area in mind?

Notes are bought at a discount to the "Unpaid Principal Balance" (UPB).

More likely to negotiate on single notes.

Large banks (Chase, BofA) rarely deal with individuals. Target smaller institutions:

Buying a mortgage note means you are buying the , not the property . You become the lender, collecting monthly payments and holding the right to foreclose if the borrower stops paying.

Get a Broker Price Opinion (BPO) or drive by to check the condition.