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Foreclosure Forum |
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Buy low, sell highIn Reply to: JBB question... posted by 2nd Fred on May 16, 2003 at 8:29 PM : Hi Ward, : After seeing you in HB a couple of months ago and reading your message board, I've become more interested in Junior Bene Buyouts. I have a really simple question that will probably take a more complicated answer. : How do you make any money? If I buy a junior loan, then bring the foreclosing loan current to stop the foreclosure, do I then start foreclosure proceeding? If so, then again, how do I make any money? Won't I only be getting back the money that I've invested which would be the cost of the junior and whatever I paid to bring the senior current? : I'm confused. : Thanks, You buy the junior note for a lot less than what the property owner owes on it. Then when he resells or refinances the property your note will be paid off for the full amount the property owner owes on it. Follow Ups:
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