Whether or not you are aware of it, there is a growing group on investors (mostly funds and committed individuals) who are purchasing mortgages, either in bulk or individually, and getting in front of these investors may mean new opportunities for you.  The investors see an opportunity to participate in a “win-win” situation. They purchase the mortgages for pennies on the dollar. Because they have purchased at the right price (usually less than the value of the underlying real estate) they can work out individual solutions with the distressed Borrowers, which sometimes permit the Borrower to stay in his or her home. If that result is not possible, a kinder, gentler exit strategy is developed with respect to permitting short sales to move through efficiently or to accept deeds in lieu of foreclosure, but still allow the Borrower to stay in the real estate until the end of the school year.

I am aware of at least two of these investors, and I would gladly furnish this information to you if you contact me. The beauty of this carrot, not stick, approach is that the real estate is often not destroyed by a vindictive Borrower before he or she leaves. There are ways to give incentives to Borrowers to  maintain the property before they leave, including cash payments and assistance in finding alternative shelter. The investors involved have developed a corps of people to contact the Borrowers and listen. Many Borrowers have fallen behind because they have lost their jobs, gotten sick or split up their marriage. They did not commit fraud when they purchased; they ran into some bad luck.

The new investors are people you should be speaking with. They have the efficiencies of a focused approach and a plan. There is no reason why each of you could not fit right in.