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Northeastern
Capital Resources, Inc.
Need help with debt?
(NCR) is
a strong nationwide buyer of privately held carryback mortgages. The company
is one of the most aggressive factors on the market today.
It's done every day: (What is a private mortgage)
When
an Individual decides to sell his/her real estate property to another private
individual what is commonly referred to as a carryback or private mortgage
is created. In some states terms like Note, Land Contract, Deed of Trust,
Contract for Deed, or Trust Deed may be used. These instruments are different
in form, but the intent is the same - to create a quick, easy way to sell
or acquire property with out involving a Bank or other financial institution.
There
are numerous reasons why a buyer and seller would create a "private
mortgage".
The expedience of
quick closing can impact both
parties, seller and buyer.
The strict guidelines of conventional institutions
(Banks) are often very prohibitive on several
issues: secondary homes, rental or investment
property, new construction, commercial property, manufactured homes, self-employment,
debt ratio
or old credit problems.
It is a great investment for the seller. He is
secured by value of property he is familiar with,
and the rate of return for his money is typically
stronger then can be gained through investments
on the open market.
Why are these "private
mortgages" sold:
The
most common reason why these private mortgages are later sold by the mortgage
holder is an unanticipated need for a lump sum of money: medical, retirement,
education cost, vacation, to purchase a new home, or to regain capital
in order to make another business investment.
Please feel
free to contact us to discuss your individual transaction or just to introduce
yourself.Start a profitable relationship today!
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