Question About Foreclosure Investigation

**BigMarxin** · 10-25-2010, 09:00 AM

I started looking for a home in late 2009. My wife and I were not just going to settle on something because of a good price... we have viewed home after home over the last year and just recently found one that we are in love with. All of our paperwork is in order, downpayment is ready, mortgage is approved and we are ready to go. We put in the offer on this amazing house and the response we got was similar to this:
"your offer has been accepted and we look forward to doing business with you in the near future, however, this home cannot be sold due to a foreclosure investigation issued by the state". I know that all 50 states are now on this wagon, and I understand that completely, I know it needs to happen.. but what im not seeing any where is a timeline... how long will this process take? Should I walk away from this beautiful home and look for something that is not a previous foreclosure or should I ride it out until the investigation is over? Id like to be in my own home by March of 2011. Any reply would be greatly appreciated.

**Greg** · 10-26-2010, 06:57 AM

These investigations won't last too long. With all the hyped up press we are not seeing foreclosures happening to people who are making their payments. So, everything should be back on line soon.

Your only concerns should be whether or not the bank will make you do the home inspection now or when they know they can close on it and whether you can hold onto your loan for an extended period of time.

**francinebourne** · 11-04-2010, 02:26 AM

Who are the right person to ask when it comes to foreclosure problem.

**BigMarxin** · 11-04-2010, 10:18 AM

I really think that depends on what type of problem you are refering to. Post your question here or create your own thread and I am sure you are to receive an answer.