Mini Course: Module 2
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SHORT PAPER
In this 2nd module of this six-part series, we will be covering Short Paper. The module will center on how to use Paper as an alternative to Short Sales, and tell you WHERE to find the note sellers, WHAT to say, and HOW MUCH you should expect to pay. Learn all about the perils and pitfalls of short paper and the purchase and exit strategies. We will even talk about transactional funding!
The three major components are:
- Assignment of the Lien
- Satisfaction of the Lien
- Where to get the money to buy the note (BONUS Video – See Below)
Module 2 Training Video
(Click Expand Button in Player Controls to Expand to Full Screen)
Other Mini Course Module 2 Resources:
Power Point Slides from the Mini Module 2 Webinar
BONUS TRANSACTIONAL FUNDING VIDEO
Need Money to Buy Short-Paper? It’s Going to be Short Term! Check Out My Favorite Source!
DOCUMENTS
Tips for Finding Note Holders
Bob & Jayme’s Resource List and How We Use It
Assignment of Deed of Trust
Used to Transfer the Deed of Trust from the Lender to You
Assignment of Mortgage
Used to Transfer the Mortgage from the Lender to You
Deed in Lieu of Foreclosure
When You Don’t Want to Foreclose on the Seller, but you DO Need to Control the Property
Promissory Note Endorsement
Used to Transfer the Note from the Lender to You
Short Sale Acceptance Letter
Buy the Note – Then Give the Seller/Closer This Letter with a “Short” Payoff
Satisfaction of Lien
Filed When the Note is Paid Off, Either In Full, or via Short Sale