How does a pre-foreclosure house work?
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Anonymous
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Zillow is showing a beautiful house as pre-foreclosure with that terminology dating back to last summer, and states that the owner has received a notice of default.
How does that work? Do you just call the bank and make an offer? Has anyone done this? |
Anonymous
| No. The house isn't legally for sale. The bank doesn't have it back yet, the owner still is on the deed. You would have to check to see if they're doing a short sale, which some sellers don't bother with. They just wait until the bank takes the house back. But the bank can't really help you right now because they have no right yet to reclaim and sell. |
Anonymous
Karma's a bitch and she's got your name and number.... |
Anonymous
?? What is wrong with the OP buying such a house? She didn't make the current owners go into default. |
Anonymous
Seriously what the hell?? The owner isn't making their payments which I think is a lot worse than someone buying a foreclosure! I purchased a foreclosure and it was because the original owner just walked away, it had nothing to do with losing his job or anything. He just decided it was underwater and he didn't want to honor his mortgage contract and keep paying. |
Anonymous
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Pretty sure this is just a way for Zillow to get you to "click through" to contact one of the "Premier Agents" that pays them a monthly fee.
Scam. |