Palm Bay, FL (PressExposure) January 27, 2009 -- American Funding Resources (http://www.americanfunding.net) announced its continuing commitment to being an active mortgage note buyer in the wake of the housing market crunch. By purchasing real estate notes, the company will provide a vital service in an economy marked by declining credit opportunities and an unstable market in residential and commercial properties.
Private real estate notes are a time-honored option for property sellers and buyers alike. Instead of negotiating a mortgage loan through a large financial institution the seller provides financing himself. Once considered a less secure choice, seller-held notes are proving their worth in the wake of revelations about institutional mismanagement in the conventional mortgage sector. Furthermore, companies like American Funding Resources are able to buy mortgage notes, providing an alternative to stagnant credit offerings from the imperiled financial sector.
âThe banks are essentially punishing consumers for their own mistakes,â said American Funding Resources president Wayne Burgess. âThey used their institutional authority to back the kind of risky mortgages that our clients would never accept in their private note. Thatâs why weâre finding so much value in seller-held real estate. Weâre willing to reward that planning with significant cash payments.â
Burgess envisions the ability to sell notes as an alternative to loan-wary banks for the purpose of maintaining cash flow. American Funding Resources will buy private mortgage notes and similar instruments using a variety of payment options, including lump sums, scheduled payments and payment for part of the note. The company is able to offer these flexible terms because private notes are individual investments, not publicly traded commodities. American Funding Resources purchases first mortgages valued at $100,000 or higher. Free quotes are available from the company online at http://www.americanfunding.net/page6.html
About American Funding Resources
American Funding Resources (http://www.americanfunding.net) is a Palm Bay, Florida based mortgage note buyer dealing in seller-held home, commercial, multifamily and lot mortgages and other property loan instruments. For over 30 years, American Funding Resources has provided liquidity to note sellers. For more information call toll free at 1-800-939-1086