Buying distressed mortgage notes at auction?

It’s the new boom industry. I’m going to check it out and will report back.

UPDATE: well that’s a bust. The two sites linked to in the NYT article don’t have Connecticut mortgages available. If you are familiar with Florida and California, you might want to prowl around but I’m not and wouldn’t consider buying anything I didn’t know the value of. Maybe they’ll get approval to expand into Connecticut.

3 Comments

Filed under Uncategorized

3 responses to “Buying distressed mortgage notes at auction?

  1. Wally

    There are huge investment funds that have been formed to do this. It is booming (this is similar to how some firms made fortunes after the savings and loan crisis in the late 80s – Apollo Partners comes to mind).

  2. Yeah, I think it’s a good idea, in the industry now. Thanks.

  3. One of the websites featured in the article, BigBidder.com, does, in fact, have notes up for auction in Connecticut.