October 23, 2009
Article From the Daily Business Review
By: Paola Iuspa-Abbott
Jeff Baum is at the forefront of a real estate industry trend that is sure to cause more pain for homeowners who thought they had left their troubles behind.
Baum, a principal with Green Circle Capital Group in Boca Raton, brokers the sale of nonperforming residential debt between lenders and investors. Those investors buy the debt with the intention of collecting from the former homeowners.
“I’ve made quite a bit of my living over the last two, three years selling deficiency balance paper,” said Baum,
A deficiency balance is the portion of the mortgage loan that wasn’t covered by the sale of the home. That debt becomes an unsecured note similar to other consumer debt such as credit cards.
Showing posts with label deficiency judgements. Show all posts
Showing posts with label deficiency judgements. Show all posts
Subscribe to:
Comments (Atom)
Posts
