1-954-957-DEAL

Questions and Consultation

 

Key Documents. LEARN HOW TO BECOME A PRIVATE LENDER

KEY ITEMS THAT SECURE THE INVESTMENT

Private mortgage loans are easy to understand and offer the lender a safe, secure and profitable investment. A real estate investor buy a property at a very low price, renovate and then sell or rent the property for profit or positive cashflow. A Private lender will provide the funds to purchase the property and will get 1st position mortgage.

For each investment we do, the private lender receives a Disclosure statement, a Promissory Note, a Mortgage/Trust Deed recorded against the property, a hazard insurance, a title insurance and a copy of the property details and investment analysis. The Private Lender can choose to work with his own Attorneys/Title company or to use the services of our own.

Key documents :

  • Promissory Note: Document that is signed by a borrower promising to repay a loan under agreed terms.
  • Title Insurance: Insurance to protect a lender against a property ownership dispute.
  • Hazard Insurance: Insurance to protect lender against property damage caused by fire,wind,storms or unexpected catastrophe.
  • Mortgage / *Trust Deed: Loan to finance the purchase of real estate. A borrower gives a lender a lien on the property as collateral for the loan.

*What is a Deed of Trust?

A deed of trust is the security for the loan. It is the document that is recorded in the public records.

A deed of trust contains three parties:

  • The Trustor: the borrower
  • The Trustee: the entity that holds "bare or legal" title
  • The Beneficiary: the lender

The deed of trust is an instrument that identifies the following:

  • Original loan amount 
  • Legal description of the property being used as security for the mortgage
  • The parties
  • Maturity date of the loan
  • Provisions of the mortgage and requirements
  • Late fees
  • Legal procedures
  • Others

Florida Landtrust information: http://www.exeter1031.com/florida_land_trust.aspx

Advantages and Benefits of using a Landtrust: http://www.exeter1031.com/benefits_of_a_title_holding_trust.aspx

 

Contact us if you have any questions or if you would like to have more information about our programs.

BECOME PRIVATE LENDER.com
info@becomeprivatelender.com
1-877-954-2211 #3 (toll Free number)
1-954-957-DEAL (3325) (Floride,USA)