Sorry Raptor I am freeking swamped right now. I have no clue why….
If it has not gone to the bank yet then ask your agent to contact the owner and basically send them a letter of intent. Is the home on the MLS (or was it on the MLS?) or is it just a home that is in distress and you have been hawking it. The situation may present an opportunity for you to assume the loan or something of that nature. I guess my answer would depend a little bit more on the details of the situation.
Regardless, contacting the owner is the first thing to do IF THE OWNER IS NOT REPRESENTED. Otherwise contact the agent.
A few months back Asianautica spied a NOD and knew it was one that may interest me. I ended up going to the guys home… left him notes… tried to call him… finally I found out where he worked and went to the store he owned and met him. I know that all sounds kind of stalking like but most people in distress are reclusive because of bill collectors and such. So I wanted him to know I wasn’t anything like that. Well he was actually pretty good about all that but ended up curing his default. Anyways that was my short story.
As far as your agent goes. It is a sticky one. Depends on what sort of nomenclature you have used in your representation agreement with him/her.
Where in the default process are they? As long as the owner is still on title you deal with the owner first. Then you may be able to work with someone in the loan workout group if things move forward.
