Mortgage Servicing Companies

I bought my house which had been on the market 18 months from a loan or mortgage servicing company. They are of course the people who buy from banks so they can keep their reputation. Where do you find more of these.

Comments(3)

  • active_re_investor13th June, 2004

    Please explain in more details as I do not consider a mortgage service company what you appear to be describing.

    John
    [addsig]

  • cjmazur13th June, 2004

    do some leg work on the term Real Estate Owned (REO), I understood.

    There are a bunch of ways:

    watch the trustee sales that don't complete.

    search for bank and lender names in the title

    Call / email REO dept at bank/lender and asked to be placed on their REO mailing list if they have one.

  • pwelborn113th June, 2004

    Well let me try to explain. When I bought my house for example, the mortgage was originated by bank of america. The loan defaulted the bank no longer wanted it they sold it to a secondary market company called litton loan servicing. So litton had to keep the books, pay the mortgage and advertise the property for sale. Meantime the property sat and I got a pretty good deal. Understand now?
    [addsig]

Add Comment

Login To Comment