Just because someone is selling 10 homes with a nominal mortgage value of 3 million total for 500k to a million does not mean that you can bid 50k on a single h

Just because someone is selling 10 homes with a nominal mortgage value of 3 million total for 500k to a million does not mean that you can bid 50k on a single home from that pack. This stuff is always packaged and you need to buy the whole thing, maybe dig through it, pick out stuff you like, repackage the rest and sell it off. The troubled mortgage lender likely isn't even selling good loans initially, they will first try to recapitalize by dropping the garbage, and will only sell quality assets when they are really pressed to do so.