THESE ARE ALL GREAT MYTHS:

a) Bank can't deal direct with public have either Realtors or mgmt company who handles all on their behalf.
b) Home going to auction more than likely close to100% banks purchase from auction they recover their fees and etc.
c) Many foreclosures may not ever offer to general public many pools of investors go in purchase in bulk.

Best locate a Realtor who can work with you and your specifications.

National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

Romaida you're right the seller does have 6 months to redeem but that is After the auction actually happens. So if the date was 3/12/09 the auction already took place. So they would have till Sept.

Now you could go to the seller if it's not listed and try to buy it from them but they would still have to pay the bank off what they owe. So if they owe more than what its worth they would have to do a short sale. Not something I would try without an agent.

As for you going to the auctions you can do this put your bid must be more than the banks opening bid and you have to put the full amount of money up in cash then wait out the 6 months. Honestly you may be better off waiting till it hits the market as a foreclosure.

The house has not been listed yet. I believe they have 6 months to reclaim the property.

Romaida,

Banks do not deal directly with buyers of "foreclosed" properties. They work through real estate professional. It is most unlikely that you would access any beneficial information by contacting the bank directly. They also work at their own pace, with their own system, that does not lend itself to being rushed.

You can always call....but don't get your hopes up!

Be patient.....................

Is the home listed for sale? If so, contact the listing agent.