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FIXnotes
Notes for Sale

Non-Performing Mortgage Notes for Sale by State

Browse 20 states with active inventory and 47 states with sale comps and resolution data.

FIXnotes lists non-performing mortgage notes for sale from sellers across the secondary mortgage market — first-lien and junior-lien residential loans where the borrower has stopped paying. Each state page shows the loans currently available for bidding plus historical sale comps and resolution outcomes for that geography, so you can price new inventory against what has actually traded.

Click a state below to view active inventory, recently sold comps, and resolved loans (modifications, payoffs, foreclosures completed). Active states are flagged with a green border.

Alabama5 available79 sold22 resolvedArizona54 sold23 resolvedArkansas8 soldCalifornia2 available343 sold165 resolvedColorado27 sold6 resolvedConnecticut67 sold13 resolvedDelaware1 available54 sold11 resolvedDistrict of Columbia19 sold2 resolvedFlorida5 available444 sold137 resolvedGeorgia126 sold25 resolvedHawaii12 soldIdaho1 sold2 resolvedIllinois1 available391 sold117 resolvedIndiana11 available122 sold34 resolvedIowa8 sold2 resolvedKansas7 sold3 resolvedKentucky7 available130 sold22 resolvedLouisiana1 available12 sold5 resolvedMaine3 soldMaryland229 sold27 resolvedMassachusetts103 sold16 resolvedMichigan12 available202 sold53 resolvedMinnesota1 available37 sold4 resolvedMississippi7 sold4 resolvedMissouri1 available62 sold10 resolvedMontana2 soldNebraska4 sold2 resolvedNevada30 sold7 resolvedNew Hampshire6 soldNew Jersey6 available353 sold79 resolvedNew Mexico9 soldNew York1 available243 sold44 resolvedNorth Carolina2 available196 sold50 resolvedOhio11 available565 sold108 resolvedOklahoma14 sold1 resolvedOregon39 sold7 resolvedPennsylvania11 available695 sold142 resolvedRhode Island17 sold6 resolvedSouth Carolina34 sold7 resolvedTennessee1 available30 sold2 resolvedTexas1 available55 sold13 resolvedUtah21 sold4 resolvedVirginia1 available95 sold25 resolvedWashington75 sold12 resolvedWest Virginia1 available5 soldWisconsin61 sold6 resolvedWyoming0 sold1 resolved

Frequently asked questions about non-performing mortgage notes for sale

What are non-performing mortgage notes?

A non-performing mortgage note is a residential mortgage loan where the borrower has stopped paying — typically for 90 days or more. The note is the borrower's written promise to repay, secured by a lien on the property. Investors buy non-performing notes at significant discounts to face value, then pursue a resolution: loan modification, discounted payoff, deed in lieu, short sale, or foreclosure.

How do I buy non-performing mortgage notes for sale?

The five-step process is: (1) source a tape of available loans from brokers, marketplaces, or servicing trade desks; (2) submit a letter of intent with proposed price and DD contingency; (3) complete due diligence in 7-21 days — BPO, title search, credit report; (4) execute the loan purchase sale agreement; (5) fund, record the assignment, and transfer servicing to your licensed loan servicer.

How much do non-performing mortgage notes cost?

Non-performing first-lien mortgage notes typically trade at 30%-70% of the property's fair market value, depending on equity coverage, state foreclosure timeline, and borrower situation. Non-performing junior liens (HELOCs and second mortgages) trade as low as 5%-25% of the unpaid principal balance. Individual notes can be acquired for as little as $5,000-$30,000 depending on lien position and property value.

Where can I find non-performing mortgage notes for sale?

Browse non-performing mortgage notes for sale by state on this page — each state listing shows active inventory plus historical sale comps and resolution data. Beyond FIXnotes, non-performing notes are sourced through note brokers (curated bank-pool tapes), GSE auctions (Fannie Mae, Freddie Mac, HUD), servicing company trade desks, and direct private-seller outreach.