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George Dixon
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Looking for NPN of a specific property

George Dixon
Posted

I'm a complete noob to property investing.

There is a local derelict property in my area (Ireland). I've identified the original owner to be a man who went bankrupt, leaving ownership to his lender. But, the property was never foreclosed as the lender was also dissolved due to their loans being non-performing. 

Based on news articles, I know these notes have been sold to Goldman Sachs and a few other banks. 

I figure, that since the original owner is bankrupt, if I bought the note myself I could foreclose and take possession immediately as an individual. Is this right? (In general)

Secondly, is it possible to track down a specific mortgage note like this? It's somewhere among a massive portfolio of NPNs. The original owner is also dead so I've no way to figure out who owns the note. At least that I can think of.

This place is completely forgotten about and an eye sore, but I think I can do something with it. 

Does anyone have advice here?

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