: These companies manage problem loans for larger institutions and sometimes sell them as individual "retail" assets. The Purchase Process Performing Mortgage Notes: The Ultimate Guide for Investors

Buying defaulted (non-performing) mortgage notes is a high-risk, high-reward strategy where you purchase debt at a deep discount, often for , to either restructure the loan or take ownership of the property. Where to Find Defaulted Notes

: Intermediaries can provide access to unlisted opportunities, though you should verify they are reputable principals in the transaction.

: Dedicated platforms like Paperstac and DealStream allow you to browse and trade non-performing notes.

: These institutions are often more willing to sell individual notes to local investors to clear their books.