Self-Servicing a note.. agree or disagree?

[Erick V.]

Hi all...

I know someone who has purchased a few np-notes and he "self-service" them instead of hiring an actual servicing company. I have recommended him to use a servicing company but he says that it is NOT a law requirement to have one. The notes he has purchased are usually in the final stages of the foreclosure, some already have judgments, and some even have sale dates.

I feel safer using a servicing company but my question is... is it required to hire a servicing company if you're a private investor, or can you do it yourself if you know what you're doing?