Vacant Home - under water - current on tax bills

1 Reply

Hi BPers,

 I recently bought a foreclosed property and while rehabbing it, realized that the next door house was vacant. Upon some investigation I found that it was underwater (mtg owed $400k; house is worth about $225k). It had 2 foreclosure actions on it - one in 2009 and one in 2010 - both for sheriff sale auctions and both were cancelled. I called the tax assessors office - hoping to find the address of the absentee owner. Taxes are current (so somebody is paying the bills every quarter). The tax office is mailing the tax bills to the property owner at the property location address - they had no other address for the absentee owner. I have been unable to find the phone number or the address of the absentee owner on the internet. Also checked with the neighbors and nobody knows where they are.

 The mtg holder is Bank of America. Is there any way to get some information from them?  The house is in good condition except for water damage in the basement. Its a good potential deal if I can find the owner/bank contact to make an offer. Any advice on how to proceed is much appreciated.

Thanks.

Maybe try to send them a letter or even a certified letter. I would think that they are paying the taxes then they must be getting the bills some how.

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