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The transference of the enforceability rights under a Mortgage and Further Charges (if any) of a loan to a third party is what we call a Secondary Mortgage Sale. Generally speaking the loans are in arrears due to the lack of payments of the borrowers and depending on the judicial status of the loan, the purchase and sale of the rights enforced through the court system is allowed.
These type of transactions are not that common in the Caribbean, but Secondary Mortgage Sales have proven to be a good investment because it has attractive prices, offers significant discounts, and the acquisition of these rights is well below the value of the property that represents the final guarantee of the mortgage loan.