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Being sold to HUD?

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    Being sold to HUD?

    Our friends living in our home while foreclosure sale is pending let me know that they received a certified letter from our bank (wells Fargo) that they are attempting to sell to HUD or *are* selling to HUD (she wasn't clear on the details...yikes!)

    She said she was given 20 days to respond if she wanted to stay...

    What does this mean? Our house is scheduled for auction December 18, we no longer live in the state. Is it time for a call to the bank or is this a good thing?

    It is an FHA loan, but I have no idea what all of this means for us. FHA has our home listed as "pre-foreclosure" apparently.
    Last edited by memama; 09-18-2012, 06:14 AM.

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