Thank you to everyone for your detailed answers. I was in fact able to obtain the complete mortgage history of the property, including the current mortgage company, at the county offices. When I contacted the mortgage company they told me they have not in fact begun foreclosure action on this property, and that if I was interested in buying the house I would have to deal with the owner (whom I had previously contacted and who was the one who told me it had reverted to the bank).
In any case my personal circumstances have recently changed and I am not at present able to pursue purchasing this or any other property. But in the future when I am able to get back into the market, I will most certainly want to work with someone who specializes in foreclosures and short sales if I am pursuing that sort of property.
Again, thanks to all for taking the time to respond. - Sat Aug 2 2008, 11:18
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.