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Leased house foreclosed on...

Posted by Jenifer on May 07, 2003 at 10:39 AM

and I know have a pre-approval loan letter that I presented to lady who 'represents' Freddie Mac (she is an ERA Broker). House foreclosure happened on 4/16, and no matter who I call,(Wells Fargo held mortgage..insured by Freddie Mac), they all tell me to call this gal at ERA.

She was given the pre-approval letter last Thursday and today she finally called me and asked for access to the inside for photo taking for a valuation. Is this procedural? Is there no way to buy the house without them going thru all this?

And as of Monday morning, the change of the deed of trust has not yet been recorded, (still in landlord's name). Yes I still live in this home, that I leased with option (and yes the landlords NEVER paid a DIME of my rent that I paid for 7 months!)

So here I am trying to buy the house at the (or near the) foreclosure price).

What is procedure? What would you do in my shoes? What are the odds I'll get the house at the foreclosure price?

Thank you in advance.
Jenifer


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