If the foreclosure is in process then the home belongs to the people, not the bank. The bank simply has a lien.
Its even more sleazy then it sounds.
It puts the buyer in a position of paying for a house they can’t live in while some scumbag occupies it. The bank isn’t getting paid and the buyer’s credit is screwed if he walks away.
In the end it costs all of us in the form of higher rates and court costs.
Its even more sleazy then it sounds.
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The right way is to identify a house that is currently in the foreclosure process and the people have moved out... find the owner , offer them a small amount as “cash for keys” and quit claim the title to yourself ,,, THEN move in, take over the foreclosure proceedings by filing a change of party-defendant and file quiet title ,, in 99% of the cases the foreclosing bank (if the loan was issued between 1998 and 2008) cannot show ownership as evidenced by any of their accounting.