People who buy notes are looking for an investement that will give back a high return. They have a lot of money to risk and expect a lot of money in return in a short period of time.
Investors do not care to hear the sob story or fantasies of those selling the notes of what they will do with the money. They just want a sound note without debt attachment from a secure payment source.
A lot of junk notes include sub-prime loan notes. These are mortgage loans given to people with less than worthy credit with a higher than normal interest rate. They are high risk because the typical person with this type of loan is most likely to default and when that happens the collateral is the house which must be sold. This may result in a quick profit for whomever owns the note if there are no other legal attachments or debt tied into the note. Chances are there will be attachments and the note will be worthless.
Note investors are picky when it comes to where they put their money. You might be excited about the idea of making money you can make for flipping notes, but the investor risks his/her money and does not care how many hoops you have to go through to make sure you are giving him/her the best deal possible. It is, after all, his/her money at risk.
