Anyone purchase a Note from Nationstar??
Hello all. I'm not a residential NPN investor, but trying to help a buddy out. My buddy is a developer, and a next door neighbor of one of his buildings has not made a mortgage payment in over a year, and Bank of America recently sold the note and/or transferred servicing to Nationstar. Does anyone have a contact or any experience with purchasing NPN from Nationstar?
I can't imagine they do one-off note sales, but could potentially consider a DPO? I advised the developer that the cleanest way would be to purchase the note and get the neighbor to sign a deed-in-lieu. However the neighbor is at least somewhat communicative with the developer, so there may be a way to negotiate the DPO on his behalf and still come away with the property.
Any leads on a contact or experience with Nationstar would be appreciated. Thanks!