Facts: There is a home across the street from me that has been abandon. Up until this past Saturday it has had a tree through the roof for the past month. This past Saturday some men contracted by a bank removed the tree and put a tarp on the roof. Working through an agent friend I have been able to determine that it is owned by an estate and has recent if not multiple mortgage's.
Guesses: The house has no equity and may be under water. Because it is not attached to any living persons credit, the heirs have no incentive or interest in doing anything with it and will let it go into foreclosure. Even helping to arrange a short sale would only mean work with no possible reward and only incur lawyer fees.
Questions: Is there any leverage to incentivize a deal on there part? Is there a way to find out what bank(s) hold(s) the note(s)? If I can find the bank is there a way to work with them to get the house without the owner (I'm thinking after they foreclose but before they put it up)?
Thank you all!
