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Updated over 8 years ago on . Most recent reply

Ron K.'s profile image
Ron K.'s profile image
Ron K.
  • Property Manager
  • from Miami, FL
  • Member since Mar 22, 2010
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Ron K.'s profile image
Ron K.'s profile image
Ron K.
  • Property Manager
  • from Miami, FL
  • Member since Mar 22, 2010
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Ron K.
  • Property Manager
  • Miami, FL
2
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27
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Mortgage Brokers & Lenders

Buying a reverse mortgage note from the bank.

Ron K.
  • Property Manager
  • Miami, FL
Posted

Original owners passed away, house been abandoned for two years, some code violations. 

I would like to buy the property.  Is it feasible to offer the bank to buy the note at full price (not short sale) so I could foreclosed and own the property? 

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Rick H.'s profile image
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Rick H.
  • #4 Marketing Your Property Contributor
  • Lender
  • from Greater LA/Orange County area, CA
  • Member since Mar 26, 2012
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Rick H.'s profile image
Rick H.'s profile image
Rick H.
  • #4 Marketing Your Property Contributor
  • Lender
  • from Greater LA/Orange County area, CA
  • Member since Mar 26, 2012
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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
Replied

Unless it's now owned by a very small portfolio lender, your chance about zero, 

Feel free to prove me wrong (I don't gave a horse in your race).

Good luck!

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