Updated over 6 years ago on . Most recent reply
Note Buying in Maine
Looking to purchase NPN 1st or 2nd position in the state of Maine. Seems like most of the notes available are from more populated states like Florida and such. Is there anyone who can steer me in the right direction?
Most Popular Reply
@Lee Gagnon
What I know about Maine Foreclosures. You can't Foreclose on a MERS LOAN, if the Assignment Chain comes out of MERS and eventually to your Company. It's the only state like that.
You end up needing to have the Loan Originator, assign it directly to your Company. Becomes difficult if the Originator is out of business and you need to find the Company with the Originator's rights.
Definitely talk to an Attorney.