OK. The auction ended on Thursday with no offers on the house (50K starting bid).
I called Countrywide today and actually spoke to someone in the REO department. The lady informed me that Countrywide no longer has the property. WHAT ???
Countrywide was just the "servicer" ... it is returned to Fannie Mae and Fannie Mae will sell it.
1. Where does this leave us?
2. Is this better or worse than if it was for sale by Countrywide?
3. I wanted to deal with Countrywide directly BEFORE they hired a realtor but, Fannie Mae said they MUST USE A REALTOR/BROKER (NO EXCEPTIONS).
4. Will our offer even be considered now?
I was able to have a licensed contractor/home inspector come to the house and give me an estimate of repairs for the drainage/water/mold issues. It was $14,680. This estimate does not cover insulating the crawl space, carpet replaced, yard clean up, appliances, interior paint & clean, and any damage caused by broken pipes because he could not test for water leaks since water is shut off. So this would be over the $14,680.
HELP.............PANIC IS SETTING IN AGAIN !!!!!!!
~~~~~~ Praying for our dream house ~~~~~~