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Summary:
The secondary market for mortgages is gaining a lot of attention, and Abby Shemesh, the Co-Founder and Chief Acquisitions Officer of Amerinote Xchange, joins us in this episode to discuss note buying and the opportunities in this sector with relevance to the current economy. Abby started his career in originations\u2014the primary mortgage market\u2014and learned about the secondary market as the company he was with started to expand across the East coast. He made the full transition to this market in 2006, founding Amerinote Xchange, and hasn\u2019t looked back since. This market became saturated in 2008 when more people started to discover secondary strategy; today, Abby says that they are now experiencing tremendous activity that they haven\u2019t seen in 14 years. They expect to see increased owner financing\u2014accounting for the lag from the time that interest rates go up\u2014and predict that a lot of the notes created in 2023 will hit the market around this time next year. Furthermore, Abby dives into the note buying/selling process, touching on the criteria for selling a mortgage, the benefits of seller financing, and what determines the attractiveness of a note. Tune in for more useful insight on the secondary market. Useful Links:
Financial Survival Network
Amerinote Xchange