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Updated over 6 years ago on . Most recent reply

Brent Wooster's profile image
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Brent Wooster
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  • from Harrison, Maine
  • Member since Mar 12, 2016
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Brent Wooster's profile image
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Brent Wooster
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  • from Harrison, Maine
  • Member since Mar 12, 2016
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Brent Wooster
  • Investor
  • Harrison, ME
5
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Foreclosures

Buyung a foreclosure that has two mortgages:

Brent Wooster
  • Investor
  • Harrison, ME
Posted

Looking for some insight on buying a foreclosure property where there is a second mortgage on the property. Specifically trying to figure in which order is it best to begin, working with the holder of the 1st mortgage or the holder of the second?

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Jay Hinrichs
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

@Aaron K.  I don't know I would be astounded if I got two separate lenders or servicers on a call.

most of these deals you never talk to anyone.. its always written correspondence once you have the owners written authorization to release mortgage information. 

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