Mark Fogarty Editorat Large
National Mortgage News
Dear distressed mortgage professional,
Here's some good news: the distressed mortgage asset glass is still half full!
It's true that millions of distressed properties have been disposed of, but guess what? Millions remain. According to the Mortgage Bankers of America, delinquent mortgages peaked at 7.6 million in 2009. But 4.4 million remain. Not all will go to foreclosure, but a lot of them will!
So a huge profit opportunity remains for those firms that can buy properties at discount and then turn them into rental properties or do loan modifications with them. The opportunity on the sell side is equally as good.
SourceMedia's Distressed Residential Mortgage Summit, to be held in New York City on June 18 and 19, is the perfect place to scout all the best opportunities for buying and selling. We've done four previous distressed mortgage shows, so we know the field and the players very well. And this year we are making some key modifications of our own.
For 2014 we are sticking solely to the residential side of the market. And we're changing the format of the show to allow for what's it all about: face to face trading and learning, facilitated by Peter Andrews of Dreambuilders Investments. Rubber, meet road!
I hope to see you in the Big Applefor this exceptionally exciting conference!