Wholesaling a vacant house taken over by debt collector

[Alex Finken]

was wondering if it's possible or a good idea to buy a home from mortgage services. I spoke with the owner , and she hasn't lived at the property for 2 years. Her name is still on it , however , ‘Shellpoint' mortgage services has taken it over, and put key locks on the doors etc. She said she owes 8k, and another 7k at a credit union. And also mentioned they want like 150k for the property which , is its AFTER repair value , not the MAO.

Is it possible to negatiate with them ? And is it worth the time if so ..?

[Patrice Penda]

Until they are the owner on title of the house, they can's sell it to you.

The owner will need to agree to a short sale with the approval of the bank