Mortgage Assignment

Mortgage Assignment
Mortgage Assignment

What is a Mortgage Assignment?

An mortgage assignment is a document which indicates that a mortgage has been transferred from the original lender or borrower to a third party.   A mortgage assignment is most commonly seen when lenders sell mortgages to other lenders, in the secondary market.  Is it the same as an assumable mortgage? Well no, not necessarily, although assumable mortgages can be transferred to a new buyer much in the same way a mortgage can be assigned to a new buyer

How Does a Mortgage Assignment Work As An Investment Strategy?

With a Mortgage Assignment, you are simply selling a home which is not selling through traditional real estate means (which there are TONS of right now) to buyers that do not qualify for traditional financing (which there are also TONS of right now).

Home sellers LOVE mortgage assignments because it is a quick and easy way for them to sell a house that they’ve had a hard time selling, or that they are unable to sell because it it upside down (That’s right this strategy works great even if their house has very little equity, no equity, or even negative equity!).  In many cases the home owners are even able to sell their house fast for near full market value! (How many of these types of sellers and properties are out there right now)?

Home Buyers LOVE mortgage assignments because it is an easy way for them to buy a home WITHOUT qualifying for a loan through a bank… and WITHOUT making a large down payment. (These types of buyers are everywhere right now, because as you know, it’s very difficult to buy a house today with conventional financing… even if you have good credit and a 20% down payment).

As an investor doing Mortgage Assignment deals (you can easily do 10 or more of these deals a month)… you can easily earn $10,000 or more per deal!  Just by putting together eager home sellers with eager home buyers!

The best part about mortgage assignments is that they do NOT cost you any money whatsoever to implement the strategy! It is truly a “no money down” strategy!! (Even the marketing to find leads for this strategy is NO COST…because it involves using Craig’s List!)

Will A Seller Really Consider Mortgage Assignments?

In general – sellers will always do what is in their own best interest. For a seller with no equity their are not too many good options:
  1. They could list the home with a REALTOR – BAD (they will have to bring a lot of money to the table)
  2. They could do a short sale – Worse (long process, bad for their credit, and could end up in foreclosure)
  3. They can go through a foreclosure – As bad as it gets
  4. Or they can choose a Mortgage Assignment – This is the best option by far (it won’t cost them anything and won’t hurt credit)

Mortgage Assignments can be a very lucrative undertaking for any investor and are an ideal strategy for any new investors.  However, there is a lot to know and learn, and you will only get good by going through the deals with someone that understands the intricacies of the paperwork, insurance, and negotiations with both buyers and sellers.

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8 thoughts on “Mortgage Assignment”

  1. I have your ” Real Estate RE-Volution” The program mentions the MAPS in the 12 ways to buy real estate.but not enough to get a person going. I would like to purchase your MAPS Program and I was wondering if their was a discount for people that have already purchased a program from you?. I am convinced that this program is the way to go.

    Please respond and have a great day!

  2. For a list of all of Phill Grove’s trainings, please click on the ‘Big Live Event Tour’ tab on the top of the website. I’m sorry you were at the Sheraton on that day…you were about a week ahead of us! If you would like direct coaching, please contact us at 512-853-9522

  3. Went to amps today at Sheraton Fourpoints Airport…met approximately 10 other investors waiting for AMPS..had my letter that said it was today…Sheraton had no record of the event, or Phil Grove. There must have been some kind of miscommunciation somewhere…but all I want to know is WHERE CAN I DO THE NEW AND UPDATED AMPS.? It is a highly effective strategy..I did similar deals in th 70s…Can we have a re-do with the actual seminar? I really want to do this..it will rescue me from practicing law..please..help me..I neeeeeeeeeed AMPS…It is my life preserver…PLEASE..help..where is my AMPS? PLEASE PLEASE PLEASE. Your seminars are awesome…except when you aren’t there….Great method, materials and teaching. HELP ME!!!!!!!SO, can you get me on the right track? I was intending to hit the ground running on Monday..giving a minimum of 2 hours per day on the system..It is such an extraordinary program. Can someone give me a study guide when and where each program will be? How to manage the study materials–using your site–marketing,forms, etc … is there a study plan that I can follow? I want to be your star student for your ads..old bag attorney becomes extraordinary realestate millionairess by Phill Grove’s AMP program..using none of her own money. How is that?

    So now what? Since there was some kind of mixup, where do I go now?
    Thank you for the quality..we all can have mixups at times..mine are almost daily. HELP ME! I want to go to stress free living and hang out with my grandbabies. Madeleine

  4. Given October, 2012 experiences: What is the typical time to effect a mortgage assignment to a qualified investor?
    For example, if I located a buying family for my home in Birmingham, Alabama providing owner financing at 230K at say 5.99% for 8 to 10 years, what would be the typical discount demanded by an investor to purchase such a note? What would be the typical turn-around time? Are such notes typically sold without recourse to the note seller?
    Does your firm maintain a marketplace facilitation such mortgage assignments?

    Cordially, Don

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