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Updated over 10 years ago,

User Stats

55
Posts
9
Votes
Giovanni Soto
  • Wholesaler
  • Elmont, NY
9
Votes |
55
Posts

Prop in foreclosure -Can I buy a the note???

Giovanni Soto
  • Wholesaler
  • Elmont, NY
Posted

Hi, i am part owner of a house in NY with only one mortgage. The property is in foreclosure. The loan is being serviced by Nationstar. I don't know if the mortgage is a FHA, BUT I suspect it is. Is there a group or other corp who can assist me in buying the note at a good discount. Might this note be bundled as part of some other default loan package? I understand the group will have to earn a commission.

as-is FMV- $270k, ARV- $340, mortgage debt- $325k, mortgage has not been paid in over 2 years.

Thank you

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