Question on foreclosure & auctions

[zaira2000]

How do we find out when the house is going on the auction block?  We spoke to the owner of the property and he said that he never received anything, however he's 7 months behind and in pre-foreclosure.  Can we get this information from the bank or will they give us a hard time?

[LoriK]

You need to get the home owner's permission to be able to speak with the bank.  The owner probably did receive something, but he should certainly speak with a lawyer in case he didn't - as the property owners are required to be notified.

The bank still may not speak with you directly, and may send you to the trustee of the sale.

Other than that, you can keep looking in the legal section of the newspaper where the sales are listed.

[zaira2000]

thanks.  we're trying to do a short sale and we did an authorization of release from the seller, but we had to return it because he didn't include the important information (like his account number!) though we told him several times to be sure to do this to keep the process going as smooth and as quickly as possible.  He's sending us another one now (as i type this), so hopefully we can get this going now.  the bank did tell us we need to get the net sheet and HUD-1 statement and the purchase agreement, but they wouldn't tell us anything else (well they wouldn't tell my husband, i'm just getting into this now).    Then we realized that how many months behind he was (he said 4 months at first) and figured that the auction date may be soon approaching and it may not be worth our time to do this.  we've never done any deals with foreclosures or short sales.  this deal fell on our laps and we didn't want it go away, so we're learning as we're going (any advice would be appreciated).