You can confirm by taking a look on the public records to see who issued a Notice of Intent to Foreclose.I haven't done a short sale, but this is what I believe you need to do.

This is where I may want to do a lease purchase but I want to know if there's any draw backs I haven't noticed with lease purchases.

Hi, first of all I introduce myself: My name is Guillermo, I'm 24 and I'm from Spain (you'll notice my english is not perfect at all).

I havent seen this yet in my area so I want to ask my expert colleagues about how this will go down if I purchase this property.My agent sent me an existing rental property.I searched the CAD for info and found Fannie Mae is listed as the "owner" and the lady who is listing the property and says she is the owner is listed as "previous owner"I know this lady and have respected her for years.

The seller may not price correctly (happens all the time) and I notice this flaw.

I was gearing up for a great 2012 until Fannie Mae wouldn't approve my mortgage without a central heating system.

And notice is legally required anyway, usually 30 days.If everything is paid up I shouldn't think you'd have any problem, only cooperation.

No, since it is REO, there is no assignment of contract for Fannie properties.

As a courthouse buyer, in my area I notice multiple upset bids on more property (currently: 11SP5266, 11SP5458, 11SP5008, 09SP5590, 11SP4690, 11SP1270, 11SP3960, 11SP4578, 11SP3929) than I've seen in a long time.

You'll notice from previous posts of mine that I have property located in South Florida, South Texas, and South Utah.