Prior to obtaining my real estate licence, I had purchase the note (mortgage ) from the bank and then foreclosed on the property. Yes, this could be done. First, find out everything you need to know on this property. Where is it in the foreclosure process? This process can take years? Where are the current owners? Could you get into the house? Can you have the home inspected? Run a mortgage search for Camden County. You will need to find all the lien holders. The best bet is call the Mortgage company or bank who holds the mortgage. Speak with someone in charge. You can not purchase a mortgage with a mortgage, therefore you would need to have a cash purchase. This is because you are buying the bad debt and not the house. Just hire the same attorney, who is currently working on the file for the mortgage company. They have done most of the leg work, therefore would probably give you a great deal on obtaining them. Remember you must negotiate with all the lien holders. So, maybe discussing this with a attorney who represents a bank currently, might help. But yes, banks buy bad debt from other banks everyday for pennies on the dollar, so you could too. It's a very long process and a frustrating one. This process is alot more complicated then one paragraph, but in the end you can make out very well..