How Do You Buy A Mortgage Note
Does anyone know how to buy a mortgage note from a bank? I am looking to buy mortgage notes of properties in forecloure direct from the bank that holds the mortgage, then foreclose on the owner, and them flip the property. Is this possible? It this a wise idea???
You may find it hard to communicate with a bank without them requiring permission of the owner to talk to you. It may be easier to work with an private party who holds a second behind a first that is foreclosing and buy the second at a discount, cure the first and then foreclose yourself or work with the owner.
Another area you might look at are short sales. There is much on this site about them. Good luck and happy investing!
-Ed