How Private Mortgage Notes Work

If you've ever paid a mortgage, you already understand half of this. Someone on the other end held a piece of paper and got paid every month, with the house standing behind it. This episode walks through how that works when the person holding the paper is an individual instead of a bank, and how to evaluate a note deal yourself before a dollar moves.The two documents behind every note, and why the recorded one decides who gets paid firstWhat happens when a borrower stops paying, and why the same default takes five months in one state and over five years in anotherTen questions to run on any note deal, plus the scam pattern that should end a conversation on arrivalTake the free Retirement Income Roadmap (7 questions, about 30 seconds): incomeoverwealth.com/mapWatch this episode on YouTube: https://www.youtube.com/watch?v=S0DFg8f--FoThis episode is educational and focused on strategy and math. Always consult a qualified tax or financial professional before making personal financial decisions.