How to purchase a single defaulted note from HSBC
I am interested in purchasing a note that has been in default for at least 12 years on a specific property. A subsidiary of HSBC has the note. Is this something that is possible? They have not foreclosed on the home and I suspect it is more like 14 years in default due to their being 14 years of outstanding property taxes. I am apt to say that if they wanted to foreclose on this home, they would have by now. In it's current state, the home isn't worth more than 35K, probably less on a 56K face value note. The home is in NC. I am not new to Real Estate Investing, but I have never tried to purchase a note before.