Question by unrepentant poster: Thinking of investing in a vulture mortgage company, any thoughts?
Buy mortgages from banks at .50 on the dollars. Let the home owner refinance it to the new amount at lower interst and a payment they can afford. Seems like a win win all around.
Answer by muncie birder
Maybe not. Remember the current owner defaulted on the current mortgage. What makes you think he will not default on the one your company holds too? After all people flipping bergers at Mc Donalds are not real good risks.
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