How to stop foreclosure? Trying to buy a house by owner

2 Replies

I have a home owner looking to sell me their home that’s going on auction in 2 days How do I go about stopping the foreclosure process and buying the house?

@Larry Bondar Trustee sale or judicial? First step would be put a contract together, then contact the foreclosing lender. You'll have to convince them that you Will actually buy the house, that this is not just some stall tactic or wholesale fantasy. You'd need a strong contract, no contingencies, large EM, POF, etc. They may or may not agree.

If this is a judicial sale, you’d have to get an emergency hearing scheduled, and convince the judge as well as the lender.

Updated almost 2 years ago

Also, if there is sufficient equity where the lender thinks the will get paid in full, the lender has No incentive to delay the sale. With 2 days, odds are Very slim.