He Buys Mortgages Nobody Wants
Pascal Wagner talks with Chris Seveney about buying home mortgages that stopped paying, how his team chooses a note, and deals that lost money.
In this interview
Chris Seveney explains how buying mortgages that have stopped paying differs from other kinds of lending, and why most borrowers fall behind after a life event rather than by choice. He walks through how loans are sold in batches through brokers, and why each state’s foreclosure rules shape which loans he bids on. He describes his checks on the person, the property and their situation, including title searches, and why title insurance matters. He also shares deals that went wrong, what they taught him, and the risks an investor in this kind of lending should understand.
Chapters
- Turning unpaid mortgages into income
- Where non-performing notes fit
- How notes are sourced
- The three Ps of due diligence
- How the offerings are set up
The picture is YouTube’s poster for this episode. Recorded January 15, 2026 by Pascal Wagner, founder of DealStack. DealStack does not rate or recommend firms. 7e does not pay DealStack, so this page is not a paid placement.
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