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Updated over 9 years ago,
HOW DO I BUY THE NOTE FOR A SPECIFIC PROPERTY?
Hi everyone, I've been on BP for a while but never really posted much. I am currently looking at a property that has been abandoned and could be a great investment opportunity. I know the owner hasn't made any payments for years but something is keeping foreclosure from happening. Idk what.
I spoke with the owner and we agreed that if I could make an agreement with the people who hold the rights for the house we would be in business. So the owner gave me their contact info and I spoke with them and we got into an agreement, but they said I had to get it in writing from the owner first. Well, thats when the owner stopped answering my phone calls and texts. That got me confused and very skeptical. Then i heard some stories of how shady this guy is. So I even started wondering if the people I spoke with are actually the ones who have the right for the property or if the owner is playing all of this somehow. Anyway... I'm thinking I have to find out who has the right for this house, why it hasn't been foreclosed and how can I get my hands on it.
I decided I'll go after the note.
So my question is: How can I find and buy the note for that specific house? Keep in mind that I know nothing about notes but I know that if there is a will there is a way.
Thanks in advance...