All Forum Posts by: Kathy Utiss

Lexis nexis is a pay for service used by banks. Most info is accurate. Otherwise now you have to use facebook to login to zabasearch.com. Look for the current address, old addresses anything that may pop a number. Sometimes doing a reversal with the address may pop an unknown name and number at that residence. Sometimes neighbors may know someone. Sometimes there are other addresses shown at the tax assessors office. Maybe they had more than one property mail went to. Google search as well. It may even behoove you to get a pacer account to see if they ever filed bankruptcy prior to death. Maybe there's an attorney with info as well. Good Luck!

I'm confused as to how you have a contract on a home if the short sale hasn't been approved already. If I was buying I'd be looking at the county records. I'd also be in touch with the bank to find this out. Short sales are not difficult. Well maybe to get final approval but I used to authorize them right away.

The parameters are the same they originated at what price? You want it discounted by how much for what reason? The decrease in property value? Repairs that need to be made? Itemize and detail your request. Maybe see if you can get the short sale approved and have the owner do a quit claim deed. Depending on the bank you maybe able to purchase the note and with the quit claim avoid a foreclosure and pick up the note somewhat discounted. Hopefully, enough to make a win/win situation happen. Good Luck! :)

Jose,

You've definitely gotten some good answers. I actually don't disagree with any of them. I'm shocked about it being done in someone's individual capacity as well. But if they bought out the second see if you can get the first to sell to you! Wouldn't that really put a twist in things? You being in 1st position would have to be paid the full amount, they being in second may have to take a hair cut depending on the irs taxes and the value of the home above and beyond what the first lien would be. Can't guarantee it but you never know if you don't try.

Regardless of what news article you read don't think they don't do short sales and note sales such as this. Regardless of what their legal contracts claim. Part of the problem with the whole mess of it all actually. But then again the 1st will probably go close to full price of the originated amount regardless and with $200k I know of a property you can put that amount down on and make a handsome profit on still monthly without all the headache!
Good Luck!

Some investors use loopnet.com. But you may be better off finding a real estate agent in that area that might be able to help.

Another option is see who may have a contact w/banks that are wanting to unload properties. It would save the Realtor fee and to have a cash buyer u may get a better discount....

Good luck