Best States for Notes

[James Kramer]

Can anyone help me out on what the best and worst States are for non-performing and performing notes? 

Looking to venture into this field, but really need to do some research. 

Thanks everyone 

[Les Goss]

@James Kramer, I consider two different factors. First, I prefer non-judicial foreclosure states because it's generally much faster to get your house back if you need to foreclose. Since the borrower doesn't have the deed (it's held by the county trustee), you don't need to have a judge hear the case.

Second, for non-performing notes I prefer states that have received Hardest Hit Funds since those funds can be used to pay the lender for any arrearages the borrower has accumulated. This is great for the owner, since they don't have to pay that back, and it's great for you because as the note holder, you are the lender, so any money they get goes straight to you. Currently, those states are:

Alabama

Arizona

California

Florida

Georgia

Indiana

Kentucky

Mississippi

Nevada

North Carolina

South Carolina

There were more, but they either disbursed all their funds, or they are no longer taking apps.