Large banks (Chase, BofA) rarely deal with individuals. Target smaller institutions:
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
This document is recorded at the county level to prove you are the new legal owner. how to buy a mortgage note from the bank
Don't call the local branch teller. You need the decision-makers: Ask for the . Request to speak with the Secondary Marketing Manager . Ask for the VP of Asset Management . 3. Vet the Note (Due Diligence) Before sending money, verify these three pillars:
A physical attachment to the original note signed by the bank to transfer ownership to you. Large banks (Chase, BofA) rarely deal with individuals
Get a Broker Price Opinion (BPO) or drive by to check the condition.
More likely to negotiate on single notes. Make an Offer This document is recorded at
The contract governing the trade.