Buying a Note on a Specific Property
If I were interested in a particular house, and I know that the owners have stopped paying their mortgage, is there any way I could buy the first or second mortgage?
Do the national guys sell individual mortgages, instead of lumping them together as bulk deals? Have you ever heard of a local bank or credit union selling individual notes?
How would one approach a credit union to buy a second mortgage that they issued, but are not receiving payments on?
Most Popular Reply
Do a search (up in the right hand corner) this question has been asked a lot before and has some in depth answers.
In short if it's a big bank you're likely wasting your time, maybe if it is a small local credit union but still somewhat of a long shot.