However, unlike a hard real estate purchase, you don't own the property when you secure a mortgage note. Instead, you become the borrower's (home purchaser's) new creditor by taking the bank's place in the transaction.Aug 6, 2021
Are mortgage brokers better than banks?
While banks expect the client will negotiate with them, or accept the given rate, mortgage brokers are more likely to go to bat for you, to get a lower interest rate.
Can I buy my mortgage note?
The process is simple. Many companies are willing to buy your mortgage note and take on risk because these are collateral-backed securities. You will need the security you received when completing your financing, which is called a mortgage or trust deed.