It’s no secret the economy and housing crash resulted in record numbers of missed mortgage payments generating investor interest in delinquent, defaulted, and non-performing notes. In November, the MBA (Mortgage Banker’s Association) reported 9.75% of combined loans at least one payment past due or in foreclosure on residential 1-4 property, the lowest in five … [Read more...] about What About Brokering Non-Performing or Defaulted Notes?
My company has bought and resold hundreds of bank-distressed (REO) properties over the last several years. We have purchased even more non-performing or defaulted notes. Although many times it’s possible to modify the terms and keep the borrowers in the home (when buying the loan), many times we have to take back the property through a Deed-In-Lieu or outright … [Read more...] about De Stress of Distressed Properties and Defaulted Notes