When a Junk-Loan Buyer Buys Your LoanBy
What happens if your bank fails, your loan gets auctioned off by the FDIC, and a junk-loan buyer comes a-calling? There’s a revealing story about this scary scenario in today’s New York Times. It reminded me of Amy Barrett’s 2008 story on similar scenarios, and Monica Mehta’s February column in which she explains how you can negotiate a discount on your own debt. (Of course, if you could buy your loan back, you wouldn’t be in the situation mentioned above in the first place.)
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Ivanka Trump Faces Courtroom Showdown Over $785 Sandals
- Uber Losing Battle in London After Regulator Revokes License
- How Electric Cars Can Create the Biggest Disruption Since the iPhone
- Mercedes Plots Tesla Attack With $1 Billion U.S. Electric Push
- Hewlett Packard Enterprise Is Said to Plan About 5,000 Job Cuts