How To Buy A Mortgage Note From The Bank Page

Look for those with high "non-performing loan" ratios. 2. Connect with the "Gatekeeper"

Large banks (Chase, BofA) rarely deal with individuals. Target smaller institutions: how to buy a mortgage note from the bank

Get a Broker Price Opinion (BPO) or drive by to check the condition. Look for those with high "non-performing loan" ratios

Usually sell for 80%–95% of the balance. how to buy a mortgage note from the bank

This document is recorded at the county level to prove you are the new legal owner.

Run a title search to ensure there are no superior liens (like unpaid taxes or IRS liens) that could wipe you out. 4. Make an Offer

Buying a mortgage note means you are buying the , not the property . You become the lender, collecting monthly payments and holding the right to foreclose if the borrower stops paying.