Ohio’s Most Respected Mortgage Note Buyer

Ohio is the only U.S. states whose official seal doesn’t feature a rectangular shape. Although Ohio is one of the seven most populous states, it ranks 34th in terms of land area. Between Cleveland and Cincinnati lie a lot of property that was bought at least once using owner-financing.

A loan may not be able to be paid off completely if interest rates rise, if the borrower loses his job, or if he fails to make any payments.A default by the borrower and the possibility of initiating a foreclosure, which can result in high costs and lengthy processes.The borrower failing to keep up with mortgage payments, thus jeopardizing his/her lender’s collateral.If the owner doesn’t keep up with maintaining the property, then the property’s worth will decrease.Collecting unpaid invoices and dealing with late payers.

If you do decide not to sell the house, talk to an experienced real estate agent.

Finding an Ohio Mortgage Note Buyer

When selling your note, if you want to find the best possible Ohio investor like Seascape Capital (or any other investors), then you need to be looking for these things:Is the company and its representative knowledgeable, and has the business been buying notes for at lea­st five years?Does the company have an A rating from the BBB?Is the business licensed for real estate activities in any states?Do you feel confident that the online notebank is trustworthy, service-orientated, and likely to offer you a fair price for your notes?

Selling Your Ohio Note

After choosing the right note buyers and agreeing on a price, follow these guidelines:The real estate agent will check the buyers’ financial situation before they sign any contracts.They will provide you with written terms for the loan, and ask for copies of documents like the mortgage and promissory notes.They will arrange for an independent valuation and legal opinion, usually at their own cost. It can take up to two weeks.You will be assigned an investor document to sign and return along with your original loan application.After receiving the documents from the client, the investment manager will send the funds to you within a few business days (usually 1–2 weeks).

ELM Capital was established in 2002 and has received an A+ rating from BBB. Since then, the company has purchased a large number of Ohio mortgages.