I know of a decent SFH property that has been vacant for 3-4 years. I'd like to buy it if I can get it for a great price. I'm a buy & hold investor with 6 SFH rentals. Here's what I know about the vacant home based on internet and paying a title company to run a report for me:
- orig mortgage 2005, now assigned to Bank of New York Mellon 2011
- 2nd mortgage 2005, MERS Countrywide Bank
- loan servicer is BAYVIEW LOAN SERVICING LLC; they appear to be out of business?
- man and wife on mortgages, ages mid-60s by now; foreign names
- taxes are up to date on the subject property; not foreclosure (really odd)
- mailing address for taxes is different than subject property
- this, 2nd property (address for taxes) is REO (possibly also vacant)
- phone number for man is disconnected; no phone for woman found
How do I proceed? Keep trying to find man & woman on title or can I try to buy the mortgage from Mellon?
BNY Mellon's Property Inquiry line (800-269-6776) says that they don't deal with the properties. One should contact the servicer.
Bayview's site is back up and I was able to find a phone number. The customer rep there said to visit www.bayviewreo.com for my vacant property. If the property isn't there then they won't be able to discuss it with me because I'm not on the loan itself (due to privacy).
My vacant property isn't on the REO website. I think I'll call one of the Bayview numbers tomorrow to at least confirm that they service the loan. After that, I don't know how I'll engineer a conversation with them...
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!