Many home based business people are considering getting into real estate as a part time venture now that they hear the housing market is sinking and it seems possible to “buy low” to later “sell high”. They’re wanting to do like this guy and buy mortgages at steep discounts, sell the homes at a discount and still double their money.
There’s just one problem, when bankers sell home loans at steep discounts, it makes them look bad.
And they’d rather keep a bad loan on the books than sell too low.
You can read it yourself: Banks slow to sell bad housing loans.