Posted by Ben (NJ) on May 31, 2000 at 11:46:34:
My brother in law has been buying these packages from the FDIC for years and has done very well. I have also bid on two but my bids were too low to be accepted. These are notes that went bad after the S&L debacle. The problem is that the last few years have been incredibly competitive and my brother in law has even had trouble getting anything good at a decent price. Also, he doesnt flip them but collects on them himself to maximize the returns. It cant hurt to order the loan package and check it out anyway.
FDIC Loan Package Sales - Posted by Mike Cadotte
Posted by Mike Cadotte on May 31, 2000 at 09:55:07:
Is anyone familiar with FDIC Loan Package Sales ? I received an email from the FDIC in Dallas, informing about several loan packages that they have for sale ranging from $530,000 - $14,400,000.
Now I haven’t even really started the Note Business yet so I obviously wouldn’t be buying them I would strictly by brokering them.
If anyone has information as to what I would need to do for this particular situation please let me know ASAP.
Patiently Awaiting
Mike Cadotte