What Do I Do If The Note Stops Performing?

In most cases if the homeowner was paying when you bought the note you will be able to identify the reason for the delinquency quickly. if you are proactive and work with them to find a solution you can likely get them back on track and performing. If they are unable to keep paying you have basically two options: 1) Foreclosure and 2) Deed in Lieu of Foreclosure.