Buying Purchase Notes

[Alexis Monroe]

Hi there note buyers! 

I’m interested in Learning how to invest in purchase notes. I found a mortgage note I’m interested in making an offer to a local bank. I found the lead through a motivated seller who called me to sell his home because his monthly payments are too high.  He tried refinancing but was unable bc credit. I can’t buy his home because it’s worth 153k and he owes 143k. He bought home 1 year ago.  My question is, when I make the offer to purchase the note To the bank, should I mention that I spoke with the borrower and he’s likely to start defaulting as incentive for bank to sell? how can I request the interest rate, balanced owed, etc on the mortgage without a release of information from the buyer? 
And do you send a formal purchase contract to make offer or just a letter saying your offer after you do review terms of purchase note?

Thank you for your time to answer my questions!