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Updated over 8 years ago on . Most recent reply

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39
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William Gillette
  • Investor
  • Spokane, WA
8
Votes |
39
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Driving for Dollars "How to find a banks contact info"

William Gillette
  • Investor
  • Spokane, WA
Posted

While out driving for dollars I located a property that appeared to have been vacant for a few years. It took sometime but I finally tracked down the owner. After talking with her she informed me that the property was given back to the bank in a bankruptcy. The property has been vacant for 7 years. While looking at the county records it appears that the property has been assigned to several different banks over the years and none of them have started the foreclosure process.

The most resent bank to hold the property is US, BANK AND TRUST / LSF9, MASTER PARTICIPATION TRUST. I have searched all of the internet and I was not able to find a phone number for this trust.

Dose any have a number for LSF9 MASTER PARTICIPATION TRUST?

Or do you guys think that this one might be a waste of my time.

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You're chasing your tail.  If the bank owned it, they will not deal you, or any other individual unless they were perhaps a smal local bank.  But, in this case, the owner who did BK still Owns it, as the bank hasn't done a foreclosure yet, and who knows when they will. "Assignments" are assignments of the mortgage, not the title to the property.  I run into this all the time "the house went back to the bank in the BK", when in reality, the bank still has to foreclose to get title.

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