Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax Liens & Mortgage Notes
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

User Stats

1
Posts
0
Votes
Ryan Janssen
  • Investor
  • Muskego, WI
0
Votes |
1
Posts

Non performing seconds

Ryan Janssen
  • Investor
  • Muskego, WI
Posted

I am buying at sheriff auction. There is a deal coming up in which Wells Fargo is the plaintiff and there are two defendants, the homeowner and US Bank N.A. I want to know if is at all possible to purchase the "second" from US bank prior to the sale to give myself a competitive edge against other bidders.

1. Will banks sell individual notes to the public?

2. If so, how the hell to you get the right person on the phone? 

From a logic standpoint ( I know banks seldom use logic) they could sell to me for even 10 cents on the dollar or get nothing as all of the proceeds may get eaten up by the first lien holder.

Please advise

Ryan

Loading replies...