Buying a Note on a Specific Property

[Jacob G.]

If I were interested in a particular house, and I know that the owners have stopped paying their mortgage, is there any way I could buy the first or second mortgage?

Do the national guys sell individual mortgages, instead of lumping them together as bulk deals? Have you ever heard of a local bank or credit union selling individual notes?

How would one approach a credit union to buy a second mortgage that they issued, but are not receiving payments on?