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What if the lender on a foreclosed home is in bankruptcy, Namely Fremont investment and loan?

We have put in a cash offer with the realtor that has listed the house. The auction is scheduled this Friday but haven't heard anything. When I recieved the information I searched the lender and it said it was in bankruptcy.
  • August 24 2009 - Iona
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Answers (2)

I am curious to know if you ever worked this out.  Sometimes, after the foreclosure, you can make a bid when the bank puts it up for sale again.
  • September 13 2009
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From the info you submitted, it appears that the Lender's assets are being supervised both by a Bankruptcy Court and the FSLIC.  At this point, the Lender may no longer own the mortgage on the home - you don't know.  The current owner will have someone at the foreclosure sale to bid on the property.  From the info you submitted, it appears that a call to the Listing Agent (Realtor) to find out what he/she knows.  It does not appear promising for you....
  • August 25 2009
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