(Scarsdale,NY) March 11, 2010 Lance Falow Partner at The Heathcote Group discusses buying defaulted mortgages
03/16/2010

Today's market is flooded with delinquent paper, and banks are taking discounts on their mortgages like never before.

Online PR News – 16-March-2010 – – There are two basic methods for cashing in on delinquent notes. Either acquire the actual property through a short sale or purchase the mortgage (not the property) from the lender.

Smart investors prove that when it comes to troubled commercial real estate, it makes a lot of sense to buy defaulted mortgages from the bank, rather than wait for the bank holding the notes to foreclose. Once you own the nonperforming notes, then you become the lender, you're in the driver's seat, and you can foreclose and take over the property yourself - often on unbeatable terms.

"In these days of underwater borrowers, rising delinquency rates, and internal and external pressure to minimize foreclosures, banks are sitting on a mountain of bad mortgages they would love to get rid of. They're stuck with loans they can't service and they want them off their books," says Lance Falow Partner at The Heathcote Group. It is a growing business and in today's real estate market and it represents a significant acquisition opportunity.

The Heathcote Group
The Heathcote Group is a real estate investment firm with a concentration in conveyancing, foreclosure and title issues.The Heathcote Group lends money on commercial property and non-owner occupied residential property and also buys defaulted mortgages and distressed property, both in New York and Florida.