Upcoming Foreclosures

Help about leasing home in possible foreclosure?

We are looking to lease a home that is possibly going into foreclosure by the owners in Texas. Is there a form we can file that will allow us first chance at purchasing the home if the foreclosure should happen? It is the neighbors to my in-laws and we are willing to take a chance, but heard there was something that we could get filed at the court house that will allow the mortgage company to contact us should it go into foreclosure so that we can possibly purchase prior to the foreclosure. Thanks!! We are looking to lease a home that is possibly going into foreclosure by the owners in Texas. Is there a form we can file that will allow us first chance at purchasing the home if the foreclosure should happen? It is the neighbors to my in-laws and we are willing to take a chance, but heard there was something that we could get filed at the court house that will allow the mortgage company to contact us should it go into foreclosure so that we can possibly purchase prior to the foreclosure. Thanks!! **By the way they don't want to sell yet I have tried that, and I was told that there is a specific form you can file in Texas that gives you first right if you file with the court house**

Public Comments

1. There is no way to insure that you are 'first in line' for purchase unless you can somehow get the current owner to sign an option to purchase. The lender will always look for the most financially productive means to get rid of that house. You might start by talking to the current owners and informing them of your interest if they should need to sell.
2. your compassion is commendable; I am doubting that the lending world will give you the time of day "other than" they would anyone else. They will not think you are doing them a favor; but ask them anyway! You have nothing to lose! Why not buy the home from them now? YOU do not need to have it go into foreclosure to buy it! Lots of homes are bought and sold by simply buyers giving property owners purchase contracts.
3. Just make an lowball offer to buy the house. He might jump on it.