On Bankruptcy and Finding Notes:
A story about a stalking horse…
I recently learned what it means to be a “stalking horse bidder”.
It’s like being both in pole position in the Indy 500, as well as in the rear of pack, at the same time.
If you were to be a stalking horse bidder, you’d be asked to bid [...]
I received the following question:
“Hello Dean, thanks for your videos, they are very helpful, I only have some questions: what happens if once you buy and own the note, the homeowner files bk? How does it affect the note? And what is the best way to protect yourself from this?”
My reply:
Bankruptcy is [...]
Floyd Norris over at the NYT carried an interesting piece on a note pool of Merrill Lynch 2nd liens.
The loss rate on those 2nd mortgages, originated by OwnIt Mortgage which filed BK in 2006, is estimated to be close to 60% at this point, and the bonds have seen their ratings drop from AAA to [...]
