All Forum Posts by: William Gillette

Alan, I am also a new investor and have found SOOO much information right here on BP. Also while you are waiting if you haven't already, check out the podcast they are awesome and you can learn so much.

So this story starts from Driving For Dollars and finding a vacant home. From what i have found out over the past few weeks is that she went through a bankruptcy 7 years ago. I spoke to her attorney and he stated that she gave the property back to the bank during that process. She has not had any involvement in it for the past 7 years.. She said that she is really sad that the property has been vacant this whole time. She lost the family home due to her husband getting really sick. The county records show that she is still the owner and the tax payer. The mortgage has been assigned several times over the years but it has never been foreclosed on.

So thats the short version of the story

Recently found a property that has been vacant for 7 years. After discussing it with a few people on BP i was informed that i would probably need to do a short sale. 

What is the best way to find an Agent Specializing in Short Sales?

@Wayne Brooks I have formed a really good relationship with the owner and she wouldn't want anything more than to just see her family home restored again. I will look into finding a good short sale agent in my area. Thanks for all your help.

@Wayne Brooks Are you saying that there is nothing i can do with this property until it goes to foreclosure? or is there a way to purchase the property before foreclosure?

@Stephen Nicholson yes i did check the county tax info. That's where things get weird. The county website is showing that the original owners are responsible and are paying the taxes. Which i know is not happening. The taxes are up to date and the original owner has not paid the taxes in 7 years.

Update: I just spoke to a US Bank & Trust local office and they also stated that they do not see anything in the system with that address. 

Not sure what the next step should be?

When i spoke to US Bank they stated that they did not see the address that i was asking about in their system. I will try a local office to see if they can find anything. 

While out driving for dollars I located a property that appeared to have been vacant for a few years. It took sometime but I finally tracked down the owner. After talking with her she informed me that the property was given back to the bank in a bankruptcy. The property has been vacant for 7 years. While looking at the county records it appears that the property has been assigned to several different banks over the years and none of them have started the foreclosure process.

The most resent bank to hold the property is US, BANK AND TRUST / LSF9, MASTER PARTICIPATION TRUST. I have searched all of the internet and I was not able to find a phone number for this trust.

Dose any have a number for LSF9 MASTER PARTICIPATION TRUST?

Or do you guys think that this one might be a waste of my time.

@Mark Fredrick Depending on the specifics i might also be able to make it.