Besides the obvious fact that you have a cheaper liability, you'll also save on the friction costs that come with getting a new loan (broker fees, etc...).

I could of purchase this properties for $175K as an REO back in 2006, but I was dealing with an inexperience mortgage broker and she can’t get my loan approval b/c she said there no stoves in all 3 units.

Find a mortgage broker with there own wholesale lines.

I have been a real estate and mortgage broker for almost 2 decades and I am having to reinvent myself and my business ~ so I have been devouring every little thing I can get my hands on, and hopefully this will fill in the crevices that need filling in to automate my business and develope an online presence ~ which he promises to help you do as well as design, develope and host a FREE website for you for one full year.

They'll have lower cost than a broker but the rates may be a bit higher and on shorter terms.How much of a discount are you buying the property at?

It's the evil mortgage brokers going down over what 100 M in total fraud.

The seller is paying the commission, and that commission gets split in whatever way the listing agreement states, and then whatever the agent's agreement is with their Broker.

Basically I want to purchase notes for myself, rather than brokering them off to another investor.

PA investors looking for pre-broker REOs for purchase.

Countrywide offers different programs to brokers than the ones you find in a Countrywide office.