Realtytrac just released its foreclosure numbers on October 11, 2012, and this report shows decreasing foreclosure activities in some U.S.

Obviously banks won’t release inventory in waves, which would stagnant the rising prices of real estate.

If one has verbiage in a contract that releases one of responsibility, I would think a judge would have a difficult time finding in favor against such contract...anything contractual holds more weight than anything verbal or insinuated.

Amber,Your whole post is irrelevant because you are saying THE SELLER is telling you what the bank said.If you believe the seller is relaying all correct info from the lender you are headed for a disaster.Get the ATR (authorization to release info form) signed by the seller and give ALL LIEN HOLDERS on title a copy.Now you have the ability to talk to the lender or servicer directly and get 100% of the information you need.

I also require copies of their ID (I prefer an electronic copy in case it needs to be sent someplace quickly, via email).Since they have been homeowners, I would require them to complete an "authorization to release loan information" form, so that you can get the payment history on their mortgage from the lender / servicer.

Daniel MillerAnother thing to do--create a form that authorizes past landlords to release info and have the tenant sign is as part of their application.

If there are problems with the house, you are released from the contract AND you get your earnest money back.

One lien against him, , no release found.

Developers can and will do the same.The above is much more likely when you are talking pre-sales for a large condo development that needs to start now but can not release units for 2-3 years.

Terms are going to be worse if you do manage to find 100%.Usually the rehab money goes into an escrow and is only released after the work is done and inspected by the lender.The store fronts probably make this a commercial property.