Now’s a good time for buying debt portfolios in Bulgaria. Why is it a good idea? Remember the property baloon in Bulgaria. Yes, the one just like in Spain. Well, the situation is as follows:
Developers got big amounts of mortgage credits so they can build holliday homes. Well, the calculations were wrong and the developers are now short in money. The developments are almost finished but the mortgages are not paid. The result is over 300 hotels in Bulgaria are owned by the banks and are being sold.
Thus, buying a debt potfolio from Bulgarian banks, can bring you a cheap hotel in a ski resort or at the Black Sea coast.
12 August 2010 5:40 pm
Any idea where you would find these portfolios?