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Buying a house pre-foreclosure

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katiegriest Joined: 01 Jul 2009 Posts: 1 1.00 Dollars($)	Posted: Wed Jul 01, 2009 9:40 am    Post subject: Buying a house pre-foreclosure Like 0 Dislike 0 We found a house that is on its way to being foreclosed on. I spoke with the owner and they are considering the option of doing a deed in lieu of foreclosure. What would be the best way to go about purchasing this home?
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Wed Jul 01, 2009 9:43 am    Post subject: Like 0 Dislike 0 well, if the owner and you can negotiate a fair price, then the owner can go to the lender with that offer and request that the consider a short sale, if that's the case. it's really up to the owner to make known the alternative to the foreclosure action, and then it's up to the lender as to how to react to the proposal. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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