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Updated over 6 years ago on . Most recent reply

User Stats

1,267
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349
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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
349
Votes |
1,267
Posts

Assignment of Mortgage

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

Hi BP

I have been following a vacant property for sometime. Recently while reviewing its title I noticed a new document recorded, concerning a small heloc that was opened back in 2006.  ( please see picture below )

Can someone help me understand this document? Did the original mortgagee ( bank of america ) sell the note to another investor? Is the new owner of the note "Pretium Mortgage Acquisition Trust"? Or was this a change in who services the note? 

If Pretium is the new owner is anyone familiar with them? Do you think there is a chance they would sell the note to an individual investor? I am 99% positive it is non performing. 

Thanks for any experiences you can share with buying notes like this.

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