what to do if a short sale goes into foreclosure?My husband and I have been in the process of buying a home that is in short sale since January. We obtained a pre approval letter from our bank and have made an offer. There was more of a 10% difference between the bank's appraisal and the BPO so a new appraisal was ordered. The appraisal came back significantly lower than the actual pay off. The short sale application had to be resubmitted to HUD and was turned down. The bank has added a few comments and resubmitted it to HUD for a last chance at approval. If it is not approved, will it go into foreclosure? and if so, how long will it take for them to put it on the market as a foreclosure? also, will we be able to have "first dibs" on it being as we have waited this long and put up with this much headache?March 07 - Statesboro00YesReport 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.