Who to contact to purchase note...short sale gone awry??

At the very end of March we were supposed to close on a property via an accepted short sale offer from the bank. 24 hours prior to the closing the title company informed us that they could not facilitate the closing due to the borrower still being under the umbrella of a chapter 13 bankruptcy. Last week we Finally received notification that the bankruptcy was officially dismissed/discharged. The bank is now telling us that they’re probably going to have to redo the entire process (borrower sending in all new financials, all new BPO appraisal, etc.) They took forever the last time in doing all of this. Instead of going through their several month process again all parties involved (except the bank) would just like to move forward in a hasty fashion. I tried calling the loss mitigation department to inquire about them selling the note (as opposed to doing short sale), and I kept either getting forwarded to the current short sale negotiator, or told that “we don’t know who handles the selling of notes”. Could any of you vets whom have purchased notes in this fashion offer any guidance on this.
#1. which department would be the best route to contact for facilitating this?
#2. if we’re successful in purchasing this note would be then just need to have the homeowner/borrower Quit Claim deed the property to us after the note purchase? Thank you so much for any feedback!


You may not be able to buy the note, you see if this loan was sold to say 100 different investors as a dirivitive (shares), the operating agreement between the originator, the servicer and the investors may be short sale and foreclosure only.

In other words the note may not exist as a one owner note and deed and may now belong as shares to bunches of people.

Keep in mind that if the servicer does not own the note, there hands may be tied. (Foreclosure, deed in lieu or short sale)

Or there may be PMI on it and the only way the lender gets there insurance money is to actually short sale it!