I hear that during a crunch, “perfectly good mortgages can be had for 15 cents on the dollar”. Can’t remember where I heard this. Probably in the Economist.
Two questions:
1. Any idea how or where to do this? Through a mutual fund or something like that?
2. Ideally, one would buy one’s own mortgage for 15 cents on the dollar, but I’m guessing that’s not really an option. I’ve got one at Countrywide and one at Citi (AZ apartments).
.
