Market for Defaulted Notes - Posted by Damus

import · July 23, 2003, 9:36pm

Posted by Damus on July 24, 2003 at 20:38:13:

I have bought a few defaulted notes and I am wondering what investors on the board focus on those. Are there any people who are looking to get rid of this paper or have that situation? Thanks.

import · July 23, 2003, 9:36pm

Posted by Damus on July 23, 2003 at 21:36:29:

What is the market for defaulted mortgages whether they are first or second positions? I am assuming seconds are a lot riskier and investors may tend to stay away from them more. Do companies sell these type of notes on a bulk or individual basis? Thanks.

import · July 24, 2003, 9:46am

Re: Market for Defaulted Notes - Posted by John Merchant

Posted by John Merchant on July 24, 2003 at 09:46:13:

Some very savvy folk do like defaulted paper, when the numbers on the RE are right. They pick up some real bargains that way, figuring they’re going to be getting the RE itself.

This is a whole course load of material, so you need to learn about it in a course or seminar on foreclosures, pre-foreclosures, short sales, etc.