Reverse Mortgage - Is there a Way to get ahead of the bank

[Karl Smith]

Over the last year or so I have been looking for abandoned properties to wholesale.  I've notice that there's a lot of houses that have become empty have had a reverse mortgage on them. The problem is by the time I find out about them the bank has already begun the process of taking over the house. Usually when the mortgage payments stop coming in or the estate files a death notice this would probably trigger the bank to start the process

I would like to know if anyone from the group has a idea how to find these properties before the bank get's a hold of them.

I thought about trying to work with mortgage brokers to find out about their mortgages written 5 -7 years prior. Maybe this would help. 

Any Ideas would be appreciated.

[Wayne Brooks]

Flawed strategy.  Doesn't matter if you find them before or after a foreclosure is started, the debt is still there.  On a RMLS, there are no "payments coming in" to the bank.  Once the owner dies or moves, the loan is due..