Q: I want to buy a vacant house in my neighborhood. It went to foreclosure, and my understanding is that no one bid on it, so it went back to the lender, which appears to be some bank in Germany. It sat vacant for a long time, but now it is listed with a local real estate company. I have made an offer through the agent, but that was two weeks ago, and the agent tells me these things just take time. What can I do?

A: You are running into two problems, and I am not sure there is a solution to either one. When an institutional lender is forced to take back a house in a foreclosure process, it is its worst nightmare come true. Typically, the house is in poor physical condition for the same reason that the borrower failed to make the monthly payments.

Often, the house has been abandoned. Lenders often hire crews to put plywood over all the windows and doors for security. Lenders often are reluctant to throw "good money after bad," so they try to sell the house in "as is" condition.

The agent may try to reason with the lender, but to no avail. So the condition of the house often deteriorates, making it unlikely that anyone other than an investor will make an offer.

When the agent does obtain a written offer, the lender's legal department jumps into high gear, requiring that as many as 13 pages of addenda and stipulations designed to protect the lender are attached to any offer before it is considered. Consequently, much red tape is involved in the sale of such property.

Because no one at the bank wants to be responsible for selling the house for much less than the loan that was originally on the house, no one is willing to make a decision on any offer that comes in. So it may take weeks to get a response.

In your case, you may have hit another snag. It seems the institution that foreclosed on the house you want is in another country, and the decision makers probably speak another language. In addition, they may be unfamiliar with our foreclosure process.

When you add it all up, you are probably lucky to get an answer, and my only advice is to be persistent and request a response until you get one. If this were a regular seller, I might be convinced that the owner was stalling on your offer while hoping for a better one. But my experiences with lenders who are selling foreclosures have been riddled with their incompetence compounded with bureaucratic bungling. Patience may be the best virtue.

Q: How is our foreclosure process an anachronism?

A: Many feel that our current foreclosure laws provide a harsh remedy to a difficult situation. The law, in a nutshell, says that "if you don't pay, you don't stay." And that's because under a mortgage, you pledge your house as collateral for the loan.

In the word "mortgage," the "mort" is from the Latin word for death, as in mortuary. The "gage" comes from the Old French "guage," meaning something of value or a pledge.

The idea of a mortgage originated in the 14th century, when a borrower offered ownership of his property as collateral for a monetary loan. If the borrower failed to pay when the money was due, the property was seized by the lender, and the land was said to be "dead" to the borrower.

The word "mortgage" first appears in print in John Gower's Confessio Amantis, completed in 1390. For the benefit of our lenders, it is a collection of love stories.

Q: Why don't builders have to have a license?

A: For the same reason that home inspectors don't have to have a license. The Georgia Legislature has never required either group to submit to state licensure.

Some groups strongly favor licensure while others see it as simply more government interference in the free marketplace. My opinion is that a home buyer should work only with experienced professionals at all levels, especially those whose reputations are well-established. Ask professionals you trust for recommendations.

Q: My mortgage company says I have to pay $15 for a new copy of my loan amortization schedule. I have my closing statement and a copy of all my paperwork, but I feel this is ridiculous. Do they have the right to do this?

A: Save yourself the $15. Just go online to www.money99.com and click on "additional resources" and then on "free calculator." Once you download the Mortgage Wizard program, you can calculate your own loan, print out schedules and see the benefit of changes in payment, all for free.

 John Adams is a broker and investor. He is host of the "John Adams Radio Show," a call-in program dealing with homeownership and real estate, from 1 to 3 p.m. Saturdays on NewsRadio 640-AM (WGST). For more real estate information or to make a comment, visit www.money99.com.