NPN, SPL, PERFORMING AND REO
A true buyer has established relationships with there sources. NPN AND REO either sfr, th, and condos via npn spl and or REO in bulk is ONLY advantageous if you have a custodian to board the assets. A service company to collect the monies and submit letters, stating the NEW title holder in which the asset has been assigned to has been bought. The new note holder in layman terms. The key is to reposition the note. That can be from modification, cash for keys and or foreclosure. Modification of notes seasoned after 6 months minimally preferable 12 months can be sold off in bulk from 70 plus cents. Once a note is performing. You can continue to collect your monthly minimal interest payment.
The note holder (Fund) can sell performing notes on the secondary market to REITS, Equity funds holding companies and or smaller companies to build a portfolio. (6-12) months of performing. The longer the note is performing the worth s greater
Pricing can be anywhere from 70 cents to par. Contingent on geographic area. Valuation and many other factors.
The goal is to reposition the note. Option two is cash for keys and or foreclose (REO).
I have kept this simple for the laymen. I am a consultant for a fund. I enjoy it and its a pleasure working with several thousand assets based on my funds ability to consummate trades after building relationships for 30 years...