Example of a Partial
Assume that you sold a house for $130,000, the buyer gave you $20,000 as a down payment, and you have a $100,000 note at 7.5% for the next 15 years (180 months). You enjoy getting the income each month but need $30,000 for another investment or to pay off debt. We could give you that $30,000 in exchange for buying the next “x” number of payments (for instance, perhaps the next 60 payments), after which the note reverts back to you for the remainder of the term.
Other ways to structure the note to meet your needs, such as getting a lump sum of money now plus receiving a part of the payment each month thereafter. This is called a split-payment partial.
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