BigBidder Auctions Re-performing Loan Pool

California-based ""BigBidder.com"":http://www.bigbidder.com, an online auction platform for mortgage notes, is marketing a $500,000 pool of re-performing residential mortgage loans.
The auction of the mortgage pool began Thursday and is scheduled to end August 5. Prospective bidders can review the documents and conduct due diligence on the BigBidder.com Web site.
The pool will be awarded to the highest bidder at the auction’s conclusion. Being an online auction, all investors will be able to monitor the bidding activity in real-time.
The announcement comes on the heels of another major milestone, as BigBidder.com recently reached $100 million in total notes for auction.
BigBidder.com caters to buyers and sellers of distressed assets, whether they are residential or commercial loans, individual or pools. Through the BigBidder portal, investors can bid on mortgages, deeds of trust, and land contracts - non-performing, sub-performing, or performing - from over 40 states across the country.
The company says its goal is to provide a broader scope of investors with the opportunity to invest in mortgage notes secured by real estate through its online auctions, which feature a transparent bidding process that fosters competition. Owners of mortgage notes can realize a return on their investment through the monthly mortgage payments made by the borrower on the total loan amount.
Paul Lyons, SVP of BigBidder.com, said, ""Pool auctions used to be an insider game characterized by back-room negotiations. It was inefficient for buyers and sellers alike. BigBidder.com has streamlined and simplified the auction process for pools of notes, and we’ve seen a tremendous response across the board.""
BigBidder is hosting a webinar to explain the basics of alternative investment in mortgage notes. There will be two live sessions on consecutive days, July 28 and July 29.
Lyons, the feature presenter for both sessions, said, ""As with any new investment, people want to understand what they’re getting into before they jump in. This upcoming webinar will explain in clear and simple terms the basics of mortgage note investing, and will answer the most important question of all: How do I make money from mortgage notesx How can I maximize ROIx""
BigBidder.com is a member of the ""LFC Group of Companies"":http://www.lfc.com/about/lfcGC.asp. For more than 30 years, the LFC Group of Companies has served Fortune 500 companies, real estate developers, investors, financial institutions, and government agencies by auction-marketing residential, commercial, land, and industrial properties. The company’s latest venture is the online auction of notes through ""BigBidder.com"":http://www.bigbidder.com.