Note Foreclosed, Next Steps?

[Vanessa Garcia]

So my brother @Eli Garcia and I are working together on increasing note holdings between the 2 of us.  2 heads are better than 1 kind of thing.  Any who, he bought one that's in Detroit, MI that was in foreclosure and as his purchase went through foreclosure process went from "in foreclosure" to "foreclosed".  So now, as I understand it, he has the title for the property.

I recommended he sell it - either to a fix & flipper, buy & hold investor or just sell to someone wanting to live there period. I'm also a big fan of Google, so upon a quick Google search of the address he found out that there had been a foreclosure auction?  He tried to get ahold of the foreclosure attorney to see exactly what had happened and has had a few back-and-forth e-mails with the company he purchased the note from but I keep telling him that he should ask the expertise of BiggerPockets what his next move should be :) (I've been lurking for months and hardly post but I've been reading and learning a LOT).

More pointedly, at this point are there any specific questions he needs to make sure to ask? and/or anything he shouldn't be doing? 

[Jay Hinrichs]

@Wayne Brooks

  this whole new genre of folks buying bad paper is just so perplexing to me.. who talks them into doing this.. these are the most complicated transactions one can do.. and you get post like these form people who have no clue.. they should never ever have done this in the first place.. and I will bet dollars to donuts the house in Detorit is destroyed and is one of those 500 to 1k houses you see being marketed and they probably owe 5k to 10k in back tax's and a 3k water bill LOL... Am I wrong here.. what is going on with uneducated investors buying into the most complicated RE transactions and then posting on BP HEY HELP me what have I done and I Don't understand... whoa !!