Hey again and thank your for visiting SellMyMortgageNoteForCash.com. I’m glad you’re here to learn on Mortgage Note Storage and hoping you are enjoying this tutorial series of blog posts regarding selling your mortgage note.

How To Keep Your Mortgage Note Storage To Maximize Its Value

Today we are going to talk about an overlooked aspect of creating and managing mortgage notes; mortgage note storage!

Sounds pretty boring I know. In fact, it’s a subject overlooked very often in the real estate mortgage business but it shouldn’t be because it’s pretty damn important.

Truth is, if you create a mortgage note but have horrible administration skills in regards to keeping the documents safe, you may as well not even create a mortgage note. How come you ask?

Because the mortgage note and the documents you create in conjunction with it are the documents that keep your interest and ownership safe. Without proper documentation you no longer have an asset of value but rather useless pieces of paper you can’t do anything with.

Now that you realize the documents created are where the true value lies, how should you protect them?

My advice is to keep your original note in a safe place such as a safe deposit box or a fireproof safe in your home. Make a photocopy to keep with your trust deed and other escrow papers but keep the originals in a safe deposit box.

There are two reasons for this precaution.

First, the note is not recorded in the county recorder’s office. The deed of trust is. If you lost your deed of trust, you could simply get another copy at the recorder’s office.

Second, your note is a negotiable instrument which means it can be endorsed on the back just like a check. And also just like the title of your car. You wouldn’t keep an un-cashed check or the title of your car lying around for someone else to easily steal would you?

As such, make sure you properly store and house your mortgage note paperwork as well because just like an un-cashed check and the title of your car, the documents are a very important asset.

I hope you enjoyed this post and now have a better understanding of how important it is to keep your mortgage note documents safe. Thank you for visiting Sell My Mortgage Note For Cash.