Is This Ethical/Legal... Note Hacking?

[Frank Geiger]

Hey BP,

I was thinking about where I wanted to eventually settle down after leaving the military and got to thinking about purchasing a non-performing note with the intent to owner occupy. This could potentially score a property with a good amount of equity from the start. 

My question: Is this ethical? I am not trying to do anything shady. My mind automatically attempts to shift the property to a performing status so that the home owner can keep their investment. What if after trying to get the owner to pay, you foreclose and then occupy the property? Are there any legal ramifications?

I appreciate any comments or ideas on the subject.