Is it true that once my home is BANK OWNED I can no longer be able to buy it back?

Asked by Ron, Lakewood, CA Thu Nov 13, 2008

I lost my home to Foreclosure and I want to get it back , Now its on the Market.

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John Mcglothlin’s answer
John Mcgloth…, , Lakewood, CA
Wed Mar 18, 2009
I would check with a real estate attorney. As far as I know there was a period of time to cure the default of the loan. If you have gone beyond that point , you may have no recourse. If you have any questions feel free to contact me via email mcglothlinj@verizon.net, Good luck.
0 votes
diana, Agent, South Haven Township, MI
Fri Nov 14, 2008
Ity has been my experience so far with the banks I work with that they will not let you or a relative purchase the property back. It is one of the questions asked when I submit an offer.
0 votes
Sylvia Barry,…, Agent, Marin, CA
Thu Nov 13, 2008
You can't get a loan for quite sometime now that you are foreclosed. The lender also will have big problem with you buying it back while just claimed you could not afford paying the mortgage on the house.

It will be pretty difficult to get the same house back unless you have great reasons to support your actions before and now.

Sylvia
0 votes
The Hagley G…, Agent, Pleasanton, CA
Thu Nov 13, 2008
If your lender foreclosed on your home, the only way to get it back is to purchase it from them.
Web Reference:  http://www.cindihagley.com
0 votes
Sonya Jackson, Agent, Sandy, OR
Thu Nov 13, 2008
You need to speak with a foreclosure attorney. They will let you know what your options are depending on if it was a judicial forclosure or nonjudicial foreclosure.
0 votes
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