I am assuming you are talking about the opposite, which is turning your note/mortgage to cash now.
Maybe you know this, but it refers to selling your owner financed note secured by mortgage or trust deed for cash now, either for existing notes, or using temporary seller financing to create AND sell a new note at closing table for cash proceeds, which is a great and fast way to sell property that is slow moving, or if you come up against title seasoning issues, etc.
Ron LeGrand uses the term. I tried to go back to find the context. I think the above posts are correct. He uses it when talking about a buyer who cashes him out... I think when he's been holding carry-back from the original seller... If I could remember the full context, I'd probably be able to figure it out.
The above posts seem to match what I remember, though.
I am assuming you are talking about the opposite, which is turning your note/mortgage to cash now.
Maybe you know this, but it refers to selling your owner financed note secured by mortgage or trust deed for cash now, either for existing notes, or using temporary seller financing to create AND sell a new note at closing table for cash proceeds, which is a great and fast way to sell property that is slow moving, or if you come up against title seasoning issues, etc.
Hope this helps, Dave
It means call John $Cash$ Locke and he will take over your mortgage!!
Larry,
Now you are talking, I like that one.
$Cash$ to mortgage. LOL
John $Cash$ Locke
A little more context would help.
I have seen the phrase 'cash to mortgage' to mean the amount of cash necessary to take over a mortgage. Think equity.
As you asked as part of a two part question then the others might be more correct and we are talking about notes and discounting.
John
Quote:
On 2004-05-31 18:10, thestudentisready wrote:
Can someone please define the term "Cash to Mortgage?" ...or "Cash to Note?"
[addsig]
Ron LeGrand uses the term. I tried to go back to find the context. I think the above posts are correct. He uses it when talking about a buyer who cashes him out... I think when he's been holding carry-back from the original seller... If I could remember the full context, I'd probably be able to figure it out.
The above posts seem to match what I remember, though.