Posted by Richard(WA) on March 26, 1999 at 20:03:00:
Thanks John! I’d love a repost of the resources you put together. I found the article you mentioned and I spent hours searching the database of past posts. I’m still unclear on a number of things–guess I’ll just have to send away for some of your books.
So basically, you are telling me it’s not so much my own credit the lenders look at, but the credit of the original borrower (the guy paying off the note), in addition to payment history, and the value of the underlying collateral, am I right? Are most of the lenders for purchasing these notes institutional or are they private individuals? How do I go about locating these lenders? As a beginner, is it better for me to deal with institutions or individuals?
I definitely want to order that book that contains 117 different sources of loan sellers. Which source, in your opinion, is the best one for a beginner to start with?
I love this site! Everyone who has replied has been great. I love the family atmosphere and the positive “can-do” attitudes!