There are many mortgage brokers who are very experienced in bank owned purchases.
A good place to start is with your bank or credit union if they can't help your agent should ideas for you on local lenders that understand the tight timeline you are going to be working with if your offer is accepted.
Hope this helps
Great question. Most likely you can. As the others stated, you need to make sure things are getting done. Might I suggest working with a LOCAL mortgage broker. Don't call 1800mortgage and expect this to get done. You need to be able to walk into an office and meet face to face in order to make sure everything is going through.
Also, foreclosures are much different than short sales. I'm guessing you've heard about short sales. A short sale can take months to close, mainly because the bank needs to approve taking a loss on the home, where a foreclosure is already owned by the bank and they know roughly what they want to sell the home for. Once they agree to a price, they will close quick.
If you need help submitting an offer, please call or email me. I live in North Andover
They should be able to but it depends on your lender. Have you chosen one yet? I work as a mortgage banker and my company underwrites and processes all files. Once approved we draw our own docs and lend our own money for the closing which gives us total control of the transaction.
I would be happy to speak with you if you need assistance. Feel free to call or email me anytime.
Were you pre-approved by your lender? Not pre-qualified. Pre-approved means they have all your paper work, have verified your income, your down payment, and your credit. If so then all that would be needed is the appraisal.