A Man Sells His Land Contract He Received From His Divorce To DICARO & ASSOCIATES, LLC

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DICARO & ASSOCIATES purchases a divorce settlement mortgage note, also known as a land contract, from a man receiving payments from his ex-wife.

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Nicholas di Caro buys notes created from a divorce.

DICARO & ASSOCIATES, LLC was also able to legitimize the agreement by recording the land contract at the county recorder’s office where the property was located.

DICARO & ASSOCIATES pays cash for part of a real estate note that was originated from a divorce. Many times assets must be sold in order to settle a divorce. On occasion a real estate note or land contract is created in the process where one ex-partner pays monthly payments to the other ex-partner so that the primary residence does not have to be sold.

In this case, a man named John was receiving payments from his ex-wife in the form of a loan secured against the home that they lived in. Basically, the real estate receivable, or land contract, called for monthly payments over 30 years that was equivalent to 50% of the value of the home.

The problem was, however, John couldn’t wait 30 years to get his money. Even though the interest he was receiving was a low 5%, John was able to pull some cash out of his land contract note by selling 60 payments of the 29 years left to DICARO & ASSOCIATES, LLC in order to meet his pending financial obligations. DICARO & ASSOCIATES paid him $25,000 in cash today, and John still got to keep a majority equity position in his land contract five years later. DICARO & ASSOCIATES, LLC was also able to legitimize the agreement by recording the land contract at the county recorder’s office where the property was located.

Nicholas di Caro is the Senior Investment Partner for DICARO & ASSOCIATES, LLC. Operating in all 50 states from their Chicago, Illinois location, they invest in performing and non-performing real estate notes from $5,000 to $5,000,000. They are actively buying privately held mortgage notes, deeds of trust, and land contracts secured by single family residences, mobile homes with land, and commercial properties. Most recently they have expanded their purchasing ability for billboard ground leases and cell phone tower leases. They have the ability to buy notes that other companies have denied, in addition to providing creative purchase options that are new to the industry. Learn more at http://www.nicholasdicaro.com

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