I totally agree with Ted on this. BUY THE NOTE. As far as a previous poster said about
a. The banks being understaffed. The real problem is not that the Lenders don't have enough employee's. It simply that 80% of the offers are BS and the Loss Mitigation Dept. has to weed through the bad files to find the good one's.
B. Mountain's of paperwork? Not really the problem is that the Lenders want there paperwork and what they ask for Nothing more and nothing less. So many people are sending in worthless paperwork and wondering why they are not getting done. I had one person submit a file in a 3 ring binder. They sent the file to me that way as well. I returned to sender. NEWS FLASH! THERE IS NO WAY I AM READING ALL THAT!! AND NEITHER IS THE LENDER!
Make things simple send them there doc's and what they want. Send out clean deals nothing fancy NO BS No option contracts, and or assigns, No trusts. Serious if you want to get deals done DO THEM RIGHT!