Approach to Lender for Pre-Foreclosure Property, w/o Owner

[Chuleung Leo Joo]

I am currently live in an apartment that was leased by the condo board.  Owner has been missing last decade without paying mortgage neither maintenance that legally supports condo board to leasing the space to a tenant.  Recently, many legal paper works delivered to my apartment that was intended addressed to the owner, informing foreclosure process due to unpaid mortgage.

I want to buy the apartment before it goes out to foreclosure process, and I've called the the lender side lawyer, but it wasn't successful obtaining proper contact to the lender who I can initiate deal discussion.

Could I ask advice how I can effectively approach to the lender on this purchasing deal, when owner is not available.

Thank you, in advance.

[Jon Holdman]

You cannot.  The owner still owns it, not the lender.  At this point in time, only the owner can sell it.  Once the foreclosure sale occurs the lender may end up owning it.  Or some other bidder may buy it.  Your first opportunity to buy it without involving the owner should be the foreclosure sale.  In most states those are cash transactions.  Some states give you a little time (days) to get your money to them.  Here in CO, most counties require cash right at the time you win the bid.   Some give you a little time (hours) to get to the bank and get a check in the correct amount.  

Generally lenders will not even talk to a third party about a property or loan without the owner's written permission.