Buying Paper from Banks / Loan Originators

[Ian Wright]

Has anyone had success purchasing paper directly from a bank? If so, how did you convince the lender do to a deal with you?

[Chris Seveney]

@Ian Wright

Likelihood of buying from banks is very slim unless you have a few million $. You may find a local bank who has some assets but I have founded the time and effort is not worth it.

If you do get a bank to send assets I have found the majority have been commercial vs residential paper.

There are some gurus who get you excited about calling banks and actually will have you pay them for you to call banks (which is insane). Don’t fall for those types of scams.