Pennies on the dollar, try 13.03 cents on a dollar

[Mike L. Williams]

Lennar Corporation, a Miami based homebuilder, is getting into the loan restructuring business by purchasing two loan portfolios from the FDIC with a combined unpaid balance of $3.05 billion for $243 million. That's 13.03 cents on the dollar.

It proves the old addage that "It takes money to make money."

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[Billie Dalessio]

where can I get a deal like this??

[Carlos H. Silva Sr.]

In this case it appears they didn't need to have money since they also received $627 million off non-recourse financing at zero percent interest for seven years.