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.

[Kisha Pink]

hello
i have a note for sale in palmer, MA severely distressed for 432k

if interested contact me

[Hans Henning]

Peter,

I currently have a defaulted note for sale in Lynn MA. The property is a mixed commercial/ residential building. It has the following details which I think would make it ideal for an investor:

The seller of the note is investor friendly
The property has 200K equity
Property is almost fully leased and cashflowing
The owner of the building is cooperative and willing to negotiate.
The current balance on the note is 572K and it is being sold for 390K with financing possible

If you or anyone else is interested please contact me and I can send more details.

Thanks

[Robert Granara]

I'd be interested in this note...send me a pm or email me [EMAIL REMOVED]

[Matt Feato]

Posting this up in case you see it here Peter as well, but I sent you a request.

I have 2 NPN's on apartment buildings in Lynn. ~2.8m unpaid balances total.

Again, hope you can see this and contact if interested.

Thanks!

[Ellen Sanford]

Go Matt! Good luck!