Western Financial - Frequently Asked Questions

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Frequently Asked Questions

Welcome to our Interactive FAQs! Click on any question at the top of the page to jump down to that answer below. If you don't see the information you are looking for, you may suggest the addition of a new FAQ at the bottom of the page.

1. Will I have to discount my note or contract?
In most cases, the seller will be required to take a discount when the note/contract is sold. The amount of discount depends on the structure of the note and the structure of payoff from Western Financial.
Western Financial 3:11 PM - Mar. 29th, 2001

2. Why are mortgages discounted?
Money received today is worth more than money due in the future. When a seller wishes to obtain a cash payoff, the mortgage must be discounted to make the yield attractive to an investor.
Western Financial 3:13 PM - Mar. 29th, 2001

3. What determines how much money I can get for my note or contract?
The amount of money you will receive depends on many factors. They include the type of property, the location of the property, the value of the property, the interest rate of the note, the term of the note, the amount of time you have been receiving payments, the credit worthiness of the payor, and the documents created when you sold your property. We consider all of the above when we give you a quote.
Western Financial 3:13 PM - Mar. 29th, 2001

4. What determines how much money I can get for my note or contract?
The amount of money you will receive depends on many factors. They include the type of property, the location of the property, the value of the property, the interest rate of the note, the term of the note, the amount of time you have been receiving payments, the credit worthiness of the payor, and the documents created when you sold your property. We consider all of the above when we give you a quote.
Western Financial 4:06 PM - Mar. 29th, 2001

5. Do I have to sell all of my note or contract?
Western Financial has the ability to structure a purchase plan to fit your needs. If you do not want to sell your entire note/contract we can purchase a number of payments or a portion of each payment.
Western Financial 4:05 PM - Mar. 29th, 2001

6. The payor on my note/contract has had some credit problems in the past. Will this prevent you from purchasing my note/contract?
Will this prevent you from purchasing my note/contract? Usually not. Western Financial looks at the entire package when purchasing your receivable. If there is a good payment history on the note/contract for the past year or if there was a substantial down payment on the property most credit problems can be overlooked.
Western Financial 4:05 PM - Mar. 29th, 2001

7. What effect does selling my note/contract have on the payor?
None. When you sell your receivable the purchaser is required to abide by the original terms of your note/contract and cannot make any changes without the payor's approval.
Western Financial 4:05 PM - Mar. 29th, 2001

8. In what states do you purchase mortgages?
Western Financial is an Arizona based company and a leader in the industry. We can purchase notes in any of the 50 United States.
Western Financial 4:04 PM - Mar. 29th, 2001

9. Are there any costs to me?
Western Financial will pay all normal acquisition costs when we purchase a receivable. Our quotes are normally net to you.
Western Financial 4:04 PM - Mar. 29th, 2001

10. We live a long distance from the property we sold. Will we have to go back there to close?
No. We will overnight the closing documents to you.
Western Financial 4:04 PM - Mar. 29th, 2001

11. How long does the process take?
In most cases we close the purchase in less than 30 days. If you have a deadline, please let us know. We will do our best to accommodate.
Western Financial 4:04 PM - Mar. 29th, 2001

12. How do I get started?
For a free, no obligation quote, simply call Western Financial at 800 538-0540 or click here.
Western Financial 4:03 PM - Mar. 29th, 2001

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