Non-performing Paper

Does anybody deal with or have experience with buying 2nds or firsts from the bank that are not performing? This is different from short sales. :-D

Comments(2)

  • TheShortSalePro23rd April, 2004

    You can try to purchase mortgages, at a discount, via an assignment. If the mortgagee agrees to your Offer, you would step into their shoes.

    [addsig]

  • commercialking23rd April, 2004

    Yes, I have done a couple of these deals, been peripherally involved in several more. Good money but not for the faint of heart and you have to be ready to spend for attnys fees to foreclose or whatever.

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