Posted by John Merchant on November 17, 2009 at 18:24:10:
In Reply to: I Have A New Note To Move posted by Patrick on November 02, 2009 at 13:44:32:
How much down pmt they making?
What's their income and is it sustainable and not likely to drop if/when one or both are laid off?
Do you understand that a note buyer is going to want to see some months of seasoning, some healthy down pmt, some evidence that he'd be paid on the note if he were to buy it?
Are you aware that 7 years after 1st BK they could file a 2d one? Or if 1st one was Ch 7 they could file a Ch 13 today?
Don't know where so many people got the idea that a new note might be sold immediately for a profit but folks, it just ain't so.
I guess some Guru's been promoting this as he's taken the suckers' money but it's sad to see how many people bought into it, did take a note and now wondering why they aren't being trampled by note buyers throwing money at them.