Any chance of buying this note? - Posted by IB (NJ)

Posted by IB (NJ) on May 31, 2006 at 17:02:00:

Uuh what exactly are you talking about James? I posted the link to the New Jersey Housing and Mortgage Finance Agency who owns a note on an abandoned house in my area. They moved to foreclosed years ago but never completed it due to an incompetent attorney. I want to know if it’s possible to buy loans, particularly a defaulted note secured by a mortgage on real estate, from a government agency. Guess I’ll call and ask. Thanks anyway.

Ib

Any chance of buying this note? - Posted by IB (NJ)

Posted by IB (NJ) on May 31, 2006 at 24:54:51:

Looks like a HUD affiliated site:

http://www.state.nj.us/dca/hmfa/index.shtml

They purch. a 1st mortgage from a smaller bank and have been sitting on it for 20 years. They initaited foreclosure a few years ago but the atty. stalled and the case was eventually dismissed. The property is now vacant and has been for years. I’d like to buy the 1st mtg. and foreclose. Any chance?

Re: Any chance of buying this note? - Posted by James HArris

Posted by James HArris on May 31, 2006 at 06:09:44:

IB, the link that you posted is not and was not a note that has been foreclosed on. This was a search for petition of eviction on my part, seeking to evict a tenent based upon non payment of rent and other things. I did not know that it would be published on the internet, could have been something my wife may have inadvertanly did. How and where did you get the idea that this has been sitting around for 20 years? I haven’t even filed this petition yet. This is not a foreclosure. What caused you to thik that this was a foreclosure? In short, there is no mortgage to buy here, now if you want to buy the property then we may have something to discuss.

Re: Any chance of buying this note? - Posted by Joe Kaiser

Posted by Joe Kaiser on May 31, 2006 at 01:56:19:

The mortgage and obligation to pay and right to foreclose may no longer
exist. Wouldn’t exist in my state.

Any other ideas?

Joe