@Gail Kaitschuckin my municipality, city goes after owner for water if tenant defaults

HI @Tim Johnson nice job hunting down the information on that property, and since you have all the info you need at the moment the next step would be to call the bank and see what their asking price would be to unload the property, some challenges could come up if it is in default they may want a large chunk of money right up front so  be prepared to hear that, also need to make sure to ask about the title to ensure there are no more liens against the property that you may not know about, on a side note they may negotiate with you and just let you assume the old owners terms/loan and walk right into it, but at this point you will not know anything until you call them,  remember you have nothing to loose with making the phone call, just make a list with all the questions you may have and dial. there is the possibility that they will not know everything but remember banks do not like to hold property and may work with you on a good deal to get it off their file., best of luckJay,

Hi @Chantz Ireland, i would look into the county tax / other public records to find the banks name/number and the next step would be to call the bank and see if they would like to unload it and what their asking price would be to unload the property, some challenges could come up if it is in default they may want a large chunk of money right up front so be prepared to hear that, also need to make sure to ask about the title to ensure there are no more liens against the property that you may not know about, on a side note they may negotiate with you and just let you assume the old owners terms/loan and walk right into it, but at this point you will not know anything until you call them, remember you have nothing to loose with making the phone call, just make a list with all the questions you may have and dial. there is the possibility that they will not know everything but **remember banks do not like to hold property and may work with you on a good deal to get it off their file.best of luckJay,

There is probably a breaking point where most people would just walk away and let everything default. 

I have a rental down in Ozark, AL by default; we rented it out when we moved to Huntsville five years ago.

Nothing beats Foreclosures with equity, defaulted taxes, deceased owner, etc. or all of these combined!

The committees do not want defaulted loans coming back on them.

I have found the recorded owner, who defaulted on the mortgage note,  but the holder of the deed of trust is MIA.

The only negative on my credit report is a defaulted private student load from a few years back for $10k.

I would consider hiring an attorney for the paperwork as a lease option default may require you to foreclose rather than evict which would require more time and money.