Finding cars to trade for paper

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Posted by G.O. on February 27, 2004 at 00:43:53:

My question has to do with the article "BEST THINGS IN LIFE ARE FREE"

I understand the concept described. But the problem I encounter is such: being new to the "paper" field, I find it easier to get access to the notes with the smaller face value. It is hard to find the amount needed for a house trade, so trading for a car seems to be a more suitable start (in every way actually :)) But here comes a problem. When I can trace a house belonging to a bank, so far I am unable to get the same info regarding the cars.

What are the ways to find this information?

I understand that simply approaching the bank could work, but since I don't have a portfolio of notes ready and was aiming for a simultaneous purchase/trade... I am a bit reluctant to do a "cold contact." Are repossessed cars handled by the same department/person that deal with REOs?

Thank you,

P.S. As a side question: in thisarticle, Mr. Behle mentions a ration 4:1, 5:1... what is it applied to?

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