REO, Getting on the Account, Assume the last mortgage?

[Mitchell Benson]

To get straight to the point. There is a home down the street listed on HUBZU. I"m the winning bidder for 5 straight weeks. They lower the price about 6-8% per week. Just 2 more weeks or so and it would have been a great deal.
it goes off of hubzu. I call the Agent, she said they did an inspection, realized that there is actually nobody living there, (it was posted online as an Owner Occupied Property) and now it may be blasted on the MLS soon.

I didn't want it to get there because i know the price would be much higher. I finally contacted the owners mother, she use to work in the office for a contracted my father has used before. She recognized my last name. anyways, she is going to get a letter to send to the loan servicing company so i can get more information about the account so maybe i can buy it from them or Assume the mortgage.

Is this the right play? What should i do once i get approved to be on the account to stop them from trying to sell it?

[Wayne Brooks]

If it is an REO, there is no longer a mtg, and the Former owners have no say so or rights whatsoever, the bank simply owns it. If it is a "short sale verification" listing, it's way upside down, a lot of arrears to be paid in cash to bring the underwater mtg current, it will Not be able to be assumed anyway.....so a waste of time.