Mackinac Savings Bank recognizes that different individuals have different cash needs. In recognition of the differing needs of individual Note Sellers, we have set up Flexible Quoting Programs that allow for the SALE OF YOUR ENTIRE NOTE or the SALE OF A PORTION OF YOUR NOTE.

Let us provide you with the options so that you can make an informed choice.

• FULL PURCHASE: A full purchase buyout is the purchase of all remaining monthly payments (and balloon payment, if applicable) of your real estate note.
• PARTIAL PURCHASE: A partial purchase is the purchase of only a portion of the monthly payments due with the Seller retaining the rights to the balance of the payments and/or balloon payment.
  • e.g. 1. Seller holds a note providing for 360 monthly payments, but wishes to sell only the first 60 payments. The Seller will receive a lump sum of cash for the 60 payments, with the remainder of the payments paid to Seller after Mackinac has received the 60 payments.

    *please note that Seller could choose to sell any number of payments (e.g. 36, 103 or 180 payments depending on Seller's individual cash needs).

  • e.g. 2. Seller holds a note with monthly payments for 60 months followed by a balloon payment. The Seller can choose to sell the 60 monthly installments while retaining the rights to the entire balloon payment.
• PARTIAL BALLOON PURCHASE (for balloon notes only): Seller holds a monthly payment note with a 5 year balloon payment. Seller can choose to sell all remaining monthly payments and a portion of the balloon payment. This allows Seller to receive a Lump Sum of Cash up front, while retaining the rights to a portion of the balloon later.