Foreclosure, and what to do if the house didn't sell.?
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Then why don't you try to find investors by yourself and let them rent the house to you?
They will probably re-advertise and try again. If you have a buyer, contact the mortgage co and see if you can sell or set up a deed in lieu of foreclosure.
If the mortgage company foreclosed on the home, then they own it. You have no control over the property at all anymore. They might let you stay in it till they sell it or they could send the police to evict you.
They will probably auction it and take what ever they can get for it.
If there were no other bidders at the sale the house reverts to the lender who will, depending on the loan type, either sell it or transfer title to the investor so that they may sell it.
The sale may have been delayed for some reason. You need to talk to your mortgage company to determine what is happening. If the sale was held, the mortgage company woudl bid its interest. In the absence of other bidders, the bank would take the property. If they did and it is FHA insured, they are in the process of preparing to transfer title to HUD and HUD will be contacting you about eviction proceedings.
What is your question? They foreclosed, you no longer have any interest in the home. Just move on.
Depending on the state, it first goes to Auction. Where anyone, including you, the mortgage holder, or Joe Blow Investor can bid on it. If there are no bids, then it goes to the mortgage holder.
It sounds like they own it.
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