The appeal of buying home notes is growing as investors in other part of real estate look to it to be their next big financial move, an article in MarketWatch by Andrea Riquier reported.

So what are notes?

While titles and deeds establish property ownership, notes — the financial agreements between lenders and homebuyers — set the terms by which a borrower will pay for the home. Financial institutions have long passed them back and forth as they rebalance their portfolios.

Riquier explained that this system creates a marketplace where thousands of notes are bought and sold for a fraction of the value of the homes they secure. The value in it being that a buyer can renegotiate with the homeowner, collecting steady cash, or even offer a “cash for keys” payout and seek a tenant or new owner.

There are some that are wearier about this increase in demand for home notes

For some housing market observers, the churn in notes is a sign that the financial crisis hasn’t fully healed — and a fresh source of potential abuses.

Where are others view it in a much more positive light.

“I’m walking into where the disaster has already happened,” said Eddie Speed, founder of both Note School and Colonial. “If I walk into a loan where the customer has vacated, they probably want out. Common sense tells us if the borrower can deed it over to the lender and walk away with dignity, that seems like a good deal for him. We’re trying to do everything we can to reach resolution.”