Once a bank finally approves the sale, they want it to close as soon as possible to cut their losses. They are alrealy losing a lot of money as the loan will not be paid off in full. If you are getting a good deal on this property...you should want to close quickly as well. Waiting four months is long enough...don't you think?
You will have to find out the name of the Trustee handling the foreclosure process. You can find this by going to the courthouse and searching public records, the local newspapers dated 1-2 weeks prior to the Trustees Sale date, or by paying a local title company to do a title search for you.
Finding out the name is only a first step, actually reaching anyone to get any information about the property will be difficult. Everyone is swamped and you are not their client. They are busy clearing the property for resale, which could involve, eviction, repairs, clearing up other liens, etc. Banks (who are often out of state) are not equipped to handle the sale of the property, that's why they find local agents to list them. As everyone said, you will have the best luck with an agent. Many of us have ties with agents who specialize in foreclosures, and can get a "coming soon" list from those agents.
If you decide to keep researching the property, do post again to let everyone know if it was successful!... more
2+ months and holding! ...and hoping that we'll still get to settlement eventually! Depends on the bank and the accuracy of the information on the listing sheet. As suggested below, what really is it's staus?? Approved short sale or only hopeful borrower who has defaulted?
Hope that helps... more