Your question did not post completely. If you are wanting to buy a home in California that is owned by BOA, you can do so even if you live here in San Antonio. Please feel free to call me to start your mortgage loan approval process and I can guide you from there.
Banks will often rescind their acceleration demand and file it again after they've ensured, or at least feel confident, that their paperwork is in order.
As both a broker and investor, I've seen this many times. In fact, I just used a strategy successfully to run interference with the bank and stop the acceleration demand on a house in 78249 that the owner could no longer afford to keep.... more
These are all great answers and they are all correct... look at other options, get pre-approvals, and the best foreclosure deals are usually taken by Investors like me before they hit the market.
There is no "easy way" to buy a foreclosed (or one going through foreclosure), you've got to have the skills to find them, contact owners, evaluate each situation, and construct a solution that is profitable.
I train my team to start at the Rex Report: http://www.RexReport.com. Buy the current foreclosure list and you have something to work from. Sort the list by zip code, and you have target properties in areas you are interested in.
You'll need to then contact the owners by phone, direct mail, or going and knocking on doors. That's the easy part, after you talk to an owner who is willing to work with you, you've got to evaluate their situation to see what the best strategy is... cash offer, subject to, wrap, etc.
This is how I start those on my team who want to do what you do. Let me know if I can help, I can work with you one on one here in SA. Good luck!
At this point I suggest you contact me by phone so we can discuss the details more thoroughly. Don't put your phone number on-line. If you drop me an e-mail at email@example.com with your phone number I will be happy to call you or you can call me at 832-330-4588.