Cash flow notes can be the answer to keep you in your and forestall foreclosure. A cash flow note is a promissory note. Every mortgage has a promissory note that you sign at the tine of the closing of the mortgage sale,
if you are on the verge of foreclosure and want to stay in your home. We might
be able to help. CNN recently showed the story of a woman in Dallas Texas, who was in foreclosure and the faith to go the foreclosure sale, where her home
was been sold. CNN showed her in the foreclosueer building site sitting on
the floor in the hall way of the building praying to stay in her home. A
woman saw her and had compassion for her. She purchased the home and leased back the home to her with an option to repurchase it after a period of time where she would have time to rebuild her credit. The purchaser gave the forclosure victim a fixed rate mortgage that she could afford.<P>
Oh, sure, we hear anecdotes about folks who stopped paying their mortgages simply because their homes were worth less than they had paid, or less than
they owed, even though they could still afford the payments.
Some people are thinking of buying another home at its new, lower price and
then mailing in the keys to his current home.<P>
But there's little hard evidence that this is happening on a large scale, as
Los Angeles Times writer Michael Hiltzik recently reported in "'Walk away' borrowers might be an urban myth." Although lenders warn about the moral hazard posed by solvent walkaways, and Treasury Secretary Henry Paulson has branded
any borrower who would do so a "speculator" who is "not honoring his obligations," others say mortgage bankers are trying to shift the blame for
the foreclosure crisis onto borrowers' shoulders.<P>
<P>
We are a part of a worldwide network of investors that are for long term cash flow note streams of income. Some of them are willing to pay cash for your promissory note from your mortgage holder and reselling your home using seller financing, which will lease back your home to you with a lease with option to buy contract. These investors are interested in long term of stable cash flow income from your lease payments<P>
Some people believe that walking away from a mortgage is immoral.
They believe you should do everything in your power to repay your loan, including draining your retirement funds, racking up credit card debt and selling your firstborn. In their view, the lender should have to pry the house keys from your cold, dead -- or at least bankrupt -- fingers.
Others insist that reneging on a mortgage obligation is no big deal. It's a business decision, they say, and nothing more.
As usual, both extremes are wrong<P>
.
Most of us know money is more than a matter of numbers. There are ethics involved. Most people feel, or should feel, an obligation to pay their debts. (So should business people, by the way. When ethics depart business, the result is Enron<P>
A promissory note, also referred to as a note payable in accounting, is a contract detailing the terms of a promise by one party (the maker) to pay a sum of money to the other (the payee)
The obligation may arise from the repayment of a loan or from another form of debt<P>
For example, in the sale of a business, the purchase price might be a combination of an immediate cash payment and payments against one or more promissory notes for the balance
The terms of a note typically include the principal amount, the interest rate
if any, and the maturity date<P>
Sometimes there will be provisions concerning the payee's rights in the event
of a default, which may include foreclosure of the maker's assets
Demand promissory notes are notes that do not carry a specific maturity date, but are due on demand of the lender
Usually the lender will only give the borrower a few days notice before the payment is due<P>
For loans between individuals, writing and signing a promissory note is often considered a good idea for tax and recordkeeping reasons
In the United States, a promissory note that meets certain conditions is a negotiable instrument governed by Article 3 of the Uniform Commercial Code
Negotiable promissory notes are used extensively in combination with mortgages in the financing of real estate transactions<P>
Other uses of promissory notes include the capitalization of corporate finances through the issuance and transfer of commercial paper
At various times in history, promissory notes have acted as a form of privately issued currency<P>
In many jurisdictions today, bearer negotiable promissory notes are illegal precisely because they can act as an alternative currency
All Scottish and Northern Irish bank notes are effectively standardized demand promissory notes
In fact, the IOU is simply an acknowledgment of the existence of a debt owed;
in contrast, a promissory note , that is, it contains an affirmative
undertaking to pay the amount stated by a date, or subject to other specified conditions.
The lease with the option to repurchase is the key to circumventing the payable on demand clause in most promissory note contracts. We have cash flow note
buyer that are willing to help.<P>
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