Short Sale Help needed

[Rich Johnson]

I found a vacant property in a very nice neighborhood. It has very high grass and needs lots of work. There is a huge deck in the back were a pool use to be and an addition was started but not finished. So it is open to the elements.

When I was looking at it a neighbor started talking to me. He said the owner was doing an addition but passed away before it was completed. The kitchen is completely stripped.. ....

...I went to the courthouse and there is a mortgage through Bank of New York. It is scheduled for a foreclosure hearing in Nov 2009. What I want to know is:

- Is it too late to try for a short sale?
- Who would sign the contracts and paperwork since they can't find the heirs?

Look forward to the assistance.

Thanks,
Rich

[Account Closed]

Rich,

If you can't find any heirs, then based on my probate experiences, you cannot get a clear title. Could you purchase the mortgage at a discount from the bank? Buy the note and continue the foreclosure???
Just a thought

Shawn