The asset management companies have relationships with various mortgage companies or lending institutions.

Original Borrower is deceased and heirs aren't sure if it was paid off or not as they have no record of a discharge.So this one might be at WF but I'm checking with you guys to see if there might be any other financial institution whose servicing old HSB loans.

Hi Charles, I am a real estate agent in MA and I have heard of similar stories.

You may have more luck with local lending institutions, so definitely look into that option.A few other options for you:1. private loans - see if you can find a passive investor who would like an equity stake in the property.

In the world of institutional sales (REOs are the best example), having great relationships with the listing agents, asset managers and other people key to the transactional side of things, will allow you to get a nice advantage over the competition.

Most lending institutions are asking for 25-30% (of the sales price )downSales price $1,000,000 you'll need $250-$350k cash down

The FDIC instituted unlimited deposit coverage.

For institutional lenders, specifically salable residential mortgage lenders, you will need credit – period.

I pay significantly more than that for a 5 unit, although it's not in MA, it's in NH.

If you're looking in Massachusetts at all I can get you properties that aren't on the MLS.