Helpful Hints for Note Holder

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  1. Do not let the Borrower get into the habit of making payments later than the due date or grace period. Be polite but insist on promptness.
  2. It is a good idea to notify the Borrower by letter at least 6 months before the balloon payment is due. This will give the Borrower plenty of time to plan for a way to finance or otherwise pay that last, large payment.
  3. Regarding the insurance
    1. Verify that the policy is issued for an amount that represents at least the full replacement value of the securing property.
    2. Be sure you are listed as a mortgagee, beneficiary, or contract holder on the policy. This is often called a “lender endorsement” on the policy.
    3. If you get a notice of cancellation, or for any reason find the property is uninsured or underinsured, immediately contact the Borrower regarding this breach and purchase your own coverage until the issue is remedied.
  4. Remember the ancient Chinese proverb, “Palest ink lasts far longer than strongest memory.” In other words, keep notes and reduce discussions and agreements to writing whenever possible.

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What Our Clients Say

“I always call on Neil Steadman at Cascade Capital Services to assess my clients’ promissory notes because I know that I will get back a detailed and comprehensive professional appraisal of the value of the notes and the basis for his assessment. His analysis is easy for both me and the clients to understand, and at the same time, he satisfies the state of California on what they expect to see. Neil is prompt and a real pleasure to work with.”
Dallas Leigh AtkinsElder Law Attorney, Santa Barbara, CA
“To date by actual count, I have made well over 50 Trust Deed secured investments beginning in 1990 with Neil Steadman at Cascade Capital Services. Having known Neil very well for over forty years, his forthright honesty in every aspect of his life has been unwavering! His investment efforts on my behalf have provided our family with a very secure and comfortable lifestyle.”
W.G.W.Tucson, AZ
“I have worked with Neil Steadman on several matters which have been quite complicated and needed more than “normal” knowledge. I have found Neil to be analytical and forthcoming with cogent advice. He is thoughtful and reasoned. He is prompt and attentive and a very easy person with whom to communicate. I would recommend him without reservation.”
Max MerrillMerrill O'Sullivan LLP Attorneys at Law, Bend, OR
“I have enjoyed lending funds through Neil Steadman of Cascade Capital Services over the past 20 years. Neil’s attention to detail, thoroughness, concern and sense of ethics have been invaluable to me. I have never had a doubt about the viability of any note recommended by Neil. Having seen firsthand how Neil treats each transaction and the parties involved, I would be equally comfortable as a borrower.”
L. F. PhillipsSanta Barbara, CA
“Neil Steadman has been our Real Estate Note Broker from 2001 to the current time, treating us fairly and professionally. His knowledge of the real estate lending business is superb, and he diligently keeps abreast of current practices. When a borrower defaulted on our loan, Neil went ‘beyond the call of duty.’ He conscientiously and competently coordinated issues with the borrowers, other lenders and support personnel. We highly recommend Neil because of his multiple skills and knowledge base, integrity and honesty.”
John A. & Lynn A. HolbrookBend, OR
“I have been an investor with Cascade Capital Services for many years. Neil Steadman is the consummate professional and one of the most knowledgeable brokers I know. I have great faith in Neil in creating and servicing my loan portfolio.”
Steve FSanta Barbara Investor
“Mr. Steadman at Cascade Capital Services goes the extra mile for his clients. As a lender, each loan I have participated in has been supported by his knowledgeable and timely advice. As a smart, service-oriented broker with a keen ability to negotiate complex transactions, Mr. Steadman also has a knack for explaining contracts in understandable lay-language – on occasion with a welcome sense of humor. I can highly recommend Cascade Capital’s Services.”
I. EdenSanta Barbara, CA
“I have the highest regard for Neil Steadman and Cascade Capital Services. My partner and I found his service to be extraordinary over a series of transactions in the period of 2002-2008. Cascade Capital Services arranged a complex, cross-collateralized hard money loan for our company in a difficult lending environment (2007/2008). Neil’s professionalism and gentlemanly manner made what could have been a nightmare of complexity a total pleasure. I heartily recommend Neil Steadman and Cascade Capital Services for anyone with financing needs associated with real estate.”
Robert LudwickInvestor, Santa Barbara, CA and Central Oregon
“It has been an honor to work with Neil and Cascade Capital Services for over 20 years. The dozens of loans he has originated have been the foundation of my investments. But that’s the simple part. Neil has represented me in complex loan negotiations with great skill, managing the needs of very difficult personalities time and again. I’d be lost without Neil’s help and he has my very highest recommendation.”
Ed GraperGoleta, CA
“I have known Neil Steadman of Cascade Capital Services for over 20 years. Formerly in the mortgage business, I hired Neil to arrange several loans for my clients. I had many complicated transactions and he could always come up with creative ways to arrange financing. Some things I didn’t completely understand and Neil was always my go-to guy for answers. He is professional, ethical, innovative, and thorough. He has a long list of verified and qualified investors and satisfied clients. Neil pays special attention to comply with all real estate laws and requirements. I highly recommend Neil Steadman to any business owner seeking financing or any investor who wants to invest in a qualified property and borrower.”
Jan Hahka, Hahka KitchensDesigning & Building, Goleta, CA
“Neil Steadman knows the market. He is very professional and gets results for his clients. I highly recommend him to anyone looking to sell or buy real estate loans.”
John Kenneth DorwinAttorney at Law, Buellton, CA
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