Seasoning / Credit
Are there any note buyers that will buy a note from someone in the 530 - 540 fico range with a little seasoning and a down payment or is this a lost cause. If so, where can I find these guys to confirm. I have a few deals that I can do in a couple of weeks if I can ensure the owner that they will be able to sell the notes in 3, 6, 12 months. Thanks
Mr. Lee
Let me see if I can help. Yes there are investors that sill buy those notes with those types of scores, ( I have access to a few) however, the discount is quite high because of this. Most, or the ones I work with, base their quote on a payor having "Good Credit" which they consider 650 or higher. They will go lower, but because they consider it more of a risk, the quote comes in lower as well. It would improve a little with a high downpayment though.