Posted by IB (NJ) on May 05, 2008 at 09:01:18:
In Reply to: How to find defaulted mortgages posted by Ken on May 04, 2008 at 17:43:29:
The same places you might find legal notices of foreclosures (county court house, newspaper, etc.). Each judicial foreclosure (at least in a judicial state) represents a defaulted mortgage. Look at the actual lis pendens and contact the foreclosing attorney to see if their client wishes to sell the note.
Was the note you purchased owned by a private party? I'm assuming so since they contacted you off of a bandit sign.
Ib