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SAN FRANCISCO-Real estate recessions have proven to both breakand make great fortunes. Banks, the FDIC, and CMBS servicers nowhold more than $140 billion in troubled loans, and that number isgrowing. Many investors are seeing that $140-billion problem as areal opportunity to buy defaulted loans at a deep discount in orderto acquire the underlying real estate on the cheap. Three expertsat Manatt, Phelps & Phillips LLP recently spoke withGlobeSt.com about buying a loan to own, how to account for therisks and how to know what you are buying.
How do you know what you are buying?
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