Discounting The Mortgage
How does one buy a piece of paper, the mortgage, from the lender prior to the foreclosure sale?
Do banks commonly deal with this type of transaction? They seem to just shrug you off and tell you to try to purchase the property at a foreclosure sale. Most banks have an asset recovery department, and mention that they are 'not in the business of selling notes.'
Is there anyone that is in the business of buying these notes?
BTW, if there are any birddogs in NYC, please contact me.
I have done many and it is great fun. Dont have any pointers except are you sure this is where you want to start?