NOTE BUYING - CAN'T GET THRU - PLEASE HELP

[Tim Silvers]

One thing on all the posts on note buying that I've gleaned is that there's nothing specific on the exact procedures of HOW TO GET THROUGH TO THE DEPT. OR PERSON THAT HANDLES SELLING NOTES. If there is any catch to note buying this seems to be it!

I have called a dozen lenders and get nowhere thus far. I have called all the numbers listed for these institutions. Most of these lenders are the larger ones like GMAC, Citi, Wells Fargo.

I ask for the so-called "secondary marketing dept". and/or "asset management dept." and I invariably wind up with a reply of "we don't have any such dept. It is not on our list" or, "we will have to take your name and no. and a supervisor will research your request and call you back" which they never do, or even "we don't sell our notes" which is not true because I read about their notes being for sale.

I have read that a strategy is to go through the short sale/loss mit dept. and then leverage into my pitch on buying the note, but I've already called loss mit and it's like speaking a foreign language. They don't know what I'm talking about.

I read and hear about those of you who have made headway. Please give me more insight, some backdoor tricks or something, otherwise it just seems it's an another elusive unicor that's all theory, but doesn't exist!

:cry: