Foreclosure Loss Mitigation?

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Posted by Gopal on June 01, 2007 at 08:16:19:

hello everyone:

Quite recently, I came across a teleseminar from Donna Bauer.

I was given to understand that one can buy discounted notes which are non-performing without going thru the loss mitigation department. Apparently, there is a separate department dealing with non performing notes.
Unfortunately, I could not attend the teleseminar to find out the answers. So, I was wondering if any of the experts on this forum has the answer to the following question ...

1) Do the banks have a separate department to deal with the sale of non-performing notes?
2) If so, then how do I contact them and is there a process to purchase a single non performing note from them?

I have emailed these questions to the teleseminar's sponser and Donna Bauer. I have yet to receive a response to this claim that was made by them. According to Donna's office, there is no such thing.

-- Gopal

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