The house I've been renting for the past three years is going into foreclosure. What steps should I take if I want to purchase the home? My credit history is not the greatest (horrible, but slowly improving), but I would also be a first-time buyer. Thank you in advance to any info anyone can provide.
Any time, prior to purchasing a foreclosure, you need to retain an experienced mortgage foreclosure defense attorney, who will have the expertise to help you avoid problems with foreclosed properties, which can have devastating financial consequences for the uneducated and unprepared. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation with an experienced NC mortgage foreclosure defense attorney. Use AVVO's Find a Lawyer tool to select a qualified attorney. Good luck. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
If you found this Answer helpful, please mark it as "Best Answer" Please be advised that the answer above is only general in nature cannot be construed as legal advice, given that not enough facts are known. It is your responsibility to retain a lawyer to analyze the facts specific to your particular situation in order to give you specific advice. Specific answers will require cognizance of all pertinent facts about your case. Any answers offered on Avvo are of a general nature only, and are not meant to create an attorney-client relationship.
You can buy now from the current owner before the foreclosure auction. You can purchase the house for cash at the auction, then refinance. Or, you can wait until a new owner takes over (like an auction purchasor or the lender), and buy from them.
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