What kind of property notes does BJB Funding buy?

We buy single or portfolios notes on real estate backed by residential and most commercial properties. We can purchase single notes up to $10,000,000.00.

Do the terms of the mortgage/trust deed change?

The terms (payment, balance, interest rate, term, etc.) do not change. The borrower will be given a new address to send his payments.

Should I sell my mortgage/trust deed note?

You should sell only if the payments you are receiving do not meet your financial needs.

Why would I want to sell my real estate note?

Review the reasons above under "Do You Need Cash for."

What documents will I need if I decide to sell?

For us to complete our "due diligence," we will need to examine copies (not originals) of: signed promissory note, recorded mortgage/trust deed, closing statement on transaction creating this note, information on the borrowers. At closing, we will need the original signed note and recorded mortgage/trust deed.

Where would the closing take place?

It usually takes place in the county where the property is located. If you have moved out of the area, the closing agent can complete the closing through the mail.

How long does it take to close?

Usually one to two weeks after we receive all the necessary documents and information. Your help in expediting this process will speed up the process.

Do I have to pay any costs?

We pay normal closing costs (appraisal, title insurance, and recording fee) on residential properties. On larger commercial properties, we usually have the note seller pay the closing costs, because it is very difficult to estimate them.