Foreclosed or bank owned or both?I've found a home that I want (because of the school district) from zillow. It said foreclosed and I went to property tax, it's currently owned by FEDERAL NATIONAL MTG ASSN (FNMA). I then went to FNMA website and I did not see the home for sale. The house foreclosed in May. So, the house is foreclosed and is it considered bank owned? Any idea how long it'll takes them before they put on the market for sale? Is it a good time to approach FNMA to offers? This is a Texas property.Thanks.November 17 2012 - Houston00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.