Today in Japan most transactions involve buying property-backed loans instead of title deeds. The property is then securitized, repackaged and remarketed. Vulture funds have also long been interested in problem mortgages. Until recently they could do little more than say so. Now they can buy.
Japanese banks are under pressure to retire debt and willing to sell land at a loss when necessary.
In the past year, the Bank of Tokyo-Mitsubishi has received some 40 queries. The opportunity has at last presented itself. All Rights Reserved. Terms under which this service is provided to you. Read our privacy guidelines .