Yes, no, yes, no, yes...?

In the past two weeks the following things happened:

• The mortgage company refused to sell me the house (they would rather foreclose it, repossess it, and sell it for less, all the while paying taxes on it, and paying for the repairs for the resale, when they have a seller approved offer in their hands RIGHT NOW??? WTF!?)
• Assuming the house was never going to go through, I looked at other properties. I found one, and put an offer in on it.
• The NEXT DAY the mortgage company (Ocwen) said they would consider approving my offer if I paid 3k of the liens on the house. Uh, oh... but now I have an offer in on another house!
• The offer on the 2nd house was rejected (there were lots of offers in on the house). Whew! Maybe I'll get the house we really want after all!

That's where it stands. I am trying to get Ocwen to put things in writing, since despite having "agreed" to accept my offer in the past, that has all been done via telephone, and they went back on their word. So, we are back in a "you might have the house in a matter of days" period, but if they "unaccept" my offer tomorrow I wouldn't be surprised. We'll see.

Until next time.

Emily

Introductions

Hello! 
My name is Emily. I am a third-generation Portland native in my twenties. I work, go to school, and dream big. The recession housing market in particular has left many in undesirable situations, but the decrease in housing prices has simultaneously created opportunities for many others to buy houses for the first time. I am one of those people.

Reference to "This Old House"
Growing up, I remember the Public Broadcasting TV show called "This Old House." As a kid, I thought it was boring, but I remember watching people fix up old homes. As I embark on this enormous undertaking for a young, busy, ambitious person armed with nothing but my father's "fix-it" knowledge, a solid work ethic and the Internet, I think revisiting those old episodes will be a valuable tool for the challenges I will undoubtedly face.

The Foreclosure Process
That being said, I do not yet have my house. For the past YEAR I have been dealing with listing agents, Realtors, banks, more banks, the IRS, the seller, appraisers, etc, etc, etc. I think I have signed half a dozed addendums. They keep telling me I have lost the house, then the next week they say they're ready to close the deal. It has been a wild ride. Supposedly, I am now in a "days away from closing" era. The holidays are getting in the way of a speedy answer, but we should get the house soon.

One thing I have learned through all this is how inefficient and redundant the communication between all the involved parties are. It is simply ridiculous that this house is sitting, unused, rotting away, when EVERYONE involved wants it sold, and I want to buy it. My offer was approved a year ago. What's holding it up? Everything from 20k in liens (we're getting/have gotten them removed) to documents signed with "too light" a shade of black ink (really?).

Are you experiencing any ridiculous lags in trying to buy a foreclosed property? What have you run up against?

In the following blog I will provide updates on everything that happens from (finally) closing the deal, to the extreme home improvement tasks ahead. Videos and photos will be used to show my steps. Thanks for reading!

Emily