Today”s Best Deals and Information on You Notes:
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Cuisinart DCC-1200 Brew Central 12-Cup Programmable Coffeemaker $165.00 A striking blend of retro style and modern technology. Programmable for brewing up to 24 hours in advance. Setting for 1 to 4 cups ensures full-bodied flavor and aroma. BrewPause™ feature lets you enjoy a cup before brewing is finished. Adjustable heater plate setting keeps coffee at the temperature you prefer. Audible “ready” signal. Automatic shutoff. Includes Gold Tone metal filter, #4 pap… |
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Cuisinart ICE-21 Frozen Yogurt-Ice Cream & Sorbet Maker Now you can enjoy the finest homemade frozen treats at home! The fully automatic Cuisinart Frozen Yogurt-Ice Cream & Sorbet Maker lets you make your favorites in 20 minutes or less, with no fuss and no mess. Just add ingredients to the bowl, press ON and the machine does the rest!… |
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Cuisinart DCC-1100 12-Cup Programmable Coffeemakers This classically designed coffeemaker is accented with stainless steel for a look that is sure to enhance your countertop. The 12 cup carafe features an ergonomic handle, dripless spout and knuckle guard for comfortable, drip-free pouring. Fully automatic, the DCC-1100 has 24-hour programmability and 1 to 4 cup setting for those times you don’t need a full pot of coffee. The Brew pause feature let… |
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Little Broken Hearts $6.35 Norah Jones has set a May 1 release date for Little Broken Hearts (Blue Note/EMI), her stunning new album produced by Danger Mouse (aka Brian Burton). Jones has also revealed the album cover and track listing of the 12-song set, which features original songs co-written by Jones and Burton. Jones drew the inspiration for the album cover from the vintage movie posters that adorn Burton’s Los Angel… |
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Sigh No More $8.36 All products are BRAND NEW and factory sealed. Fast shipping and 100% Satisfaction Guaranteed…. |
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Release Me $9.84 All products are BRAND NEW and factory sealed. Fast shipping and 100% Satisfaction Guaranteed…. |
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Love Letter [VHS] $3.99 No one with romantic tendencies will be able to resist The Love Letter. Campbell Scott plays a Civil War buff who buys a desk from that era. While polishing it, he discovers a secret compartment, in which sits an unmailed letter–a letter written by a young woman named Lizzie (Jennifer Jason Leigh) over a century earlier. Touched by her yearning for passion, he writes her back, egged on by his mys… |
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Disney’s Sing Along Songs: Fun With Music [VHS] $12.99 Songs are for sharing, and learning the words to your favorite Disney songs has never been so much fun! Just sing along to the on-screen lyrics as you enjoy classic Disney characters in their most memorable musical scenes! Mr. Owl and Professor Ludwig Von Drake host Volume 5 of DISNEY’S SING-ALONG SONGS, which highlights the music from Disney’s hit movie OLIVER & COMPANY. Join Grammy award-winner … |
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Notes Alive: On the Day You Were Born [VHS] $2.68 This creative video from the Minnesota Orchestra is a great way to introduce youngsters to symphony music. Author Debra Frasier reads her bestselling children’s book that celebrates the world we live in, and her colorful drawings are changed into computer animation and scored to new music by Steve Heitzeg. The Aaron Copland-style symphony includes very curious instruments (goat hooves and seashell… |
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Liftmaster Chamberlain 387lm Wireless Keypad $13.68 The 387LM Keyless Entry is compatible with the following brand openers: Genie® Intellicode 1995 to Present, Linear/Moore-o-Matic® from 1997 to Present, Stanley® from 1998 to Present, Overhead Door CodeDodger® 2005 to Present, Wayne-Dalton® from 1999 to Present, Craftsman®, Chamberlain®, LiftMaster® , 300/310/315/372/390 MHz compatible. Note: Not compatible with Marantec or Hormann, Overhea… |
Seller Financing – Payment History and Note Seasoning
It is widely understood that that the housing market is in a recession and the need for cash is great. Individuals, Small Businesses and corporations can’t get loans. There is pressure on prices in the housing market and traditional financing methods aren’t helping the situation. So what do you do? You look for alternative options to get the benefits that you want and you find seller financing as the best option. So how does this fit in with note seasoning?
Real estate investors will purchase a seller financed note with as few as 2 payments, three months after the property is sold, as long as all the other note elements check out. I am referring to the note seasoning and payment history of the note. Note seasoning is the period of time a note holder, the individual who offered seller financing, has been receiving payments from a buyer. A green note is a note with only 2 or 3 payments. A note is considered seasoned after twelve months of payments. When a note holder decides that he wants to sell his or her note, note seasoning is one of the many deciding factors that go into the sale of a seller financed note.
I am often asked “if note seasoning is one of the deciding elements that go into the purchase of a seller financed note, why would you purchase a note that has only 2 payments?” It is often assumed that the longer the seasoning the more valuable the note. That is not always the case. Note seasoning and payment history go hand in hand. Payment history is the timeliness of payments. For instance, a new home buyer purchases a house using seller financing. He puts 20% down and has a credit score of 650. The term of the note is 10 years with an 8.5% interest rate. Two on time payments have been made; a pretty good looking note from an investor’s point of view. Conversely, a note holder has a note with 24 payments of seasoning, the first twelve were on time but the last twelve payments only 3 payments were made on time and two payments were missed all together. The note is well seasoned but the note has a history of late or missed payments decreasing the value. The discount the note holder will take to sell his note will be substantial.
Another scenario where note seasoning enhances the value of the note, the home buyer puts an 8% down payment (a little low) on a $100,000 sale price and has made 36(three years) perfect on-time payments on a 10 year note. The on time payment history will illustrates a credible track record and the 36 months of seasoning lower the LTV making it attractive to investors.
There is no standard when you determine the discount of a note. The discount was ultimately determined when the note was created, that is why it is important to consult with a note professional before you create it. The discount depends on a multiple of elements: note seasoning, payment History, payor credit worthiness, note position, type of property, location of the property, property appraisal, local market trends etc. etc. etc.
About the Author
Robert E Young is a real estate investor who specializes in Seller Financing Techniques and strategies. Robert is an expert and can help you with identifying the options you have with your real estate note. Whether you need assistance in creating a note or you want to identify the options you have with an existing note The Texas Note Company can help.
August 2011 Thank you notes with Dawn