Most citizens refer to foreclosure as any distressed sale. That is not the case. The fact you are still there indicates it is NOT a foreclosed home. It is very likely PRE-Foreclosure. this means the current owner CAN attempt to sell the home at market value and below the balance of the mortgage.
It is time to pick up the phone and call a RALEIGH Realtor. Ernie provided this telephone number.
If you are serious, PICK UP THE PHONE AND GIVE ERNIE a call.
(Note: I do not know Ernie)
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Palm Harbor University High School distirct
Have you tried working with a lender who may be able to get you approved to by the home from the current home owner before the bank takes any other actions on the home. The loan is probably not assumable. Mortgage rates are still at historic lows so it is still a great time to buy. You may also be able to get into home with low down payment. I would like to talk with you and see how I can help. My contact information is below, feel Free to contact me.
8480 Honeycutt Road
Raleigh, NC 27615
Why don't you just buy the home from the owner?
If you can put some money in his pocket, and get his loan off his back, you may be able to walk into a bargain.
My guess is that unless the owners are willing to try and help you speak with the lender you're likely going to be unable to accomplish much. I would approach them to see if you couldn't work together to your mutual advantage.