Looking forward to working with all of you Frederick (and surrounding area) flippers/buy-and-holders in the near future!

My question is, how do I go about finding the current holder of the unpaid mortgage so I may negotiate with them.ThanksNobuko

At this point they're still paddling down that big river in Egypt but once the fit hits the shan they'll start taking my calls.For long term holders, e.g. not syndicators or private equity, if you buy with low leverage and a margin of safety in the cash flow you can pay market prices today and in 20 years the guy who sold it to you will be wishing he never sold.If you think prices are high in your market check out Vancouver BC where you'd be buying 60 year old, flat roof, single pane window, central boiler, never been remodeled buildings at 'suite' cap rates in the upper 2s.Just some food for thought but I don't think the Fed is as likely to raise rates (and drive up cap rates) any time as soon as most think.

The two parties, the auction bidder and the lien holder are not acting with the same intentions.There are numerous reasons why a balance would jump up so high which has been sort of stated.  

Some of these reasons could be: Multiple liens on the property and the lien holders are not willing to negotiate, Borrower not providing documents needed by the bank in a timely manner, Buyer walking, Etc. 

(one BP poster (Christian Morentcy) was courageous enough to use OSB stained and lacquered to look like bamboo tiles)-+/add craigslist rugs-check if you can add any insulation between floors....for industrial feel, use conduit pipes for shower/towel holders.....

In the course of some civil litigation my corporate law firm identified and was able to get me assigned the rights to a tax sale certificate and assignment of the certificate holders rights in the accompanying Circuit Court foreclosure case.

If you list your rental on that site and nowhere else, almost all of the people who contact you will be Section 8 voucher holders. 

Specifically, the homeowners insurance policy would need to be in my name as the deed holder, but that is part of the existing PITI payment.

This lien-holder is the USRDA.