Reverse Mortgage Buyout - Now bank owned.

[Colin Foley]

Back Story:

I own a small piece of land in the woods of massachusettes with enough street frontage to put a road in. There is, an abutting property with a house on it that seemed to be abandoned. No one answers the door. No cars are ever there. I happened to be passing by, saw someone moving in/out. stopped and talked. Was an older woman living in the house and had just passed away. Family did not want the house. Reverse mortage on the house. I was talking to the family about making a deal so that i could buy the house out instead of them signing it back over to the bank.

Unfortunatly for me, they decided to just sign the house over to the lender.

I was already navigating new ground (as far as my experience leve) trying to jump in and work with the family. Now, im not sure at all what, if any, my options are to try and buy the house directly from the lender. They are accross country. I googled them (of course) found a phone number and will be calling them on monday.

I'm looking for some advice on my next steps to try and buy this house from the lender.

-Colin