Peter Mergenthaler, Real Estate Pro in Lake Worth, FL
There are many lender/investors that could possibly own the loan in question, but only one set of guide lines the loan was originated with. The guide lines or agency like Fannie that the loan was constructed with will dictate who and how it may be resolved. If you want to find the investor you must send a written request with authorization to release information signed by the borrower to the servicer requesting the information. Depending upon the servicer the borrower may have to make the request directly and I do not believe the request can be denied by the borrower. You must also find out from the servicer if the loan had mortgage insurance. If the loan was constructed with MI you will need to request there information too. The investor may own the loan but if MI is involved they will likely have the last word to approve the MI claim. Is this property a short sale, foreclosure, or just abandoned property of interest? I have been licensed for 20 years in Palm Beach County and specialized in distress resolution for the last 6 years. Aside from my Real Estate experience I owned a mortgage company so I am very familiar with lending as well as distress resolution. Please contact me so I can get clear picture if the circumstances. The more I know the more help I can be. I am working on a short sale for another Agents listing now. He is not experienced and turned the transaction over to me. We were able to secure a short sale approval in a fraction of the time he spent plus $38,000 to the seller for his cooperation. distress resolution takes skill, diligence, and most if all cooperation and patience from all parties involved. I look forward to hearing from YOU!