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