Non-performing note buying means purchasing mortgage notes where the borrower has stopped paying, acquiring defaulted debt at a steep discount to its face value.
Log in to followSomeone in another room mentioned you can pick up non-performing second liens for a couple thousand dollars each, which sounds like an amount I could actually risk while I learn.…
I do HVAC and light electrical work, mostly for a handful of small landlords. One of them sold a house on owner financing three years ago and the buyer stopped paying nine months…
I bought one note last year to find out whether I could do this at all. UPB $88,400, arrears $14k, paid $41k. Small three bedroom in an older inner-ring suburb, occupied by the or…
Closing this one out at month 11 because the payoff funded last week and I want the numbers down while they're accurate. The file. 2004 origination, note rate 5.25%, unpaid balanc…
Bought this one eight months ago. UPB $103,200, arrears at purchase $19,400, paid $47k. As-is value came in at $158k on a full interior walkthrough that the borrower let me do, wh…
Working out what a first non-performing note would really cost me end to end. The note price I understand. Then someone told me I need a licensed servicer and can't take payments…
Nine files offered as a small tape, balances $48k to $130k, ask around 40 percent of balance in aggregate. Bid window is five business days. The seller sent collateral file scans…
Construction is my background, so I understand structures better than I understand liens, and I proved it. The note was a second mortgage, $31k balance, on a 1,400 square foot hou…
I do renovations, so when a small note came up on a 1960s three bed that needed a kitchen and a roof, I looked at it as a way into the house at a price no wholesaler would give me…
Someone I've met a few times through a lending group is clearing out and offered me two non-performing seconds as a pair. Balances $34k and $41k, both stopped paying in 2023, ask…
I've been going through the numbers on this strategy and they work, which is sort of the problem. The return comes from a household that stopped being able to pay. The guide says…
I'm still costing out a first deal and this is the fork I can't get past. The tapes I've been sent split roughly along foreclosure procedure. In the judicial states, where the len…