Purchasing Mortgage Delinquent Notes From Mortgage Companies And Banks
i had a few questions about contacting mortgage companies and banks for mortgage note delinquent and in foreclosure.
1. what is the correct approach to contact lenders for the delinquent and foreclosing notes,which department is the correct department to contact?
2. i have heard that you can offer 40 to 50 percent discount on notes,is that on the principal amount or including arreage?
3. when these notes are handled by a servicing company they seem to be a little less helpful about how to acquire the notes.how do you get around these guys and deal with principal?
4.can deliquent notes be bought from the servicer?
5. do the servicing companies also buy the delinquent notes?
6. can the notes be bought from the servicer for a discount,if they know it is some equity inthe property?
7.how do calculate what to offer when there is 20to 40% equity or no equity?
8. does certified funds or cash have to be given to get these notes or can you have them assigned over for future monies?
9. do you have to be a certain type of legal structure,corporation or hold some kind of financial license to deal with a bank or mortgage company?
Comments(0)