He said $175k ($50k discount).

You can get a discounter if you want to save, but if you have no clue, that's likely the best idea.

See I would think that as REO's stay on the market longer and longer that banks will be more willing to discount them at foreclosure.

With the Magix Corp, we buy homes at a small discount and finance it back to a buyer that cannot get regular financing.

He tried to offer me a 40% DISCOUNT on it!

You would negotiate with the lender directly for a discounted price under the actual amount owed on the note.

We have created unique relationships with: Property management companies Realty firms Closing attorneys Appraisers Over 10+ rehab crew and more In addition, we have the infrastructure and marketing systems in place to get properties at deep discounts.

I have a question I need some help with from the more experienced Brokers, Mortgage Bankers and Real Estate Professionals in the forum.I have a client that is considering purchasing non performing notes from some of my lenders I work with for a substantial discount on the unpaid balance.They want to then go back to the noteholders and forgive the past due amount and restructure the note at a higher interest rate for forgiving the past due amounts.While this is a really sound idea, I am curious to know if it is legal, or furthermore, if there are any issues with them selling off the notes at a later date as performing once they are restructured.Just curious to know if any of the others have any experience with this.

We have discounted deals available right now.

Equity at Closing (from buying at a discount)3.