Pre-Forclosure / Foreclosure Limbo? Phila., Pa
I have a contact who owned 50 properties at one time in Phila., Pa. They were all foreclosed about eight years ago, except for 13. My contact stated that he can't find out who currently holds the mortgages on these last 13 properties since the mortgages were sold off. It seems like these properties are in some type of pre-foreclosure. The owner has not collected rent, paid taxes or made mortgage payments in many years on these properties. How can I find who the mortgage holder(s) is? I am assuming the best strategy for me to purchase these properties would be a Short Sale? Any advise or information on how I can help my contact would be appreciated.
Thanks, Daryl