Buying Notes in Lynn, MA? How do I access banks with mortgage notes

[Peter Reynolds]

I’m looking for mortgage notes to buy in Lynn, MA. Any leads how I could find these? Looking for connections to banks, etc.

The investor is looking to buy about $10 million, to start.

The purpose, ultimately, of buying these notes is to negotiate with the owner for a deed en lieu or friendly foreclosure.

Thanks

[Alex Hart]

Peter,

Welcome to BP!

Have a realtor pull short sale listings in your area for you. After some DD group the ones you want to buy and send in your LOI to the lender. You could also contact the main administrative office for the lenders. If you call ask to speak to either the Secondary Marketing Department, Special Assets, Capital Assets, or Capital Markets Department. If they don't have such a department, ask to speak to the department that handles the defaulted residential or commercial loans, not foreclosures.

Here are a couple of websites that could help you in your search. I have nothing to gain by any ones use of these sites.

creditunionaccess.com
thecommunitybanker.com
laneguide.com

Good luck in your search.