Foreclosure Financing
Where Can I get a loan for a forclosure?
Can I just take out a cash loan?
Or is it better to tell them it is a foreclosed property?
Thanks
Where Can I get a loan for a forclosure?
Can I just take out a cash loan?
Or is it better to tell them it is a foreclosed property?
Thanks
If you mean "where can I borrow money to buy property at the foreclosure sale?", then your answer is credit cards, family members, savings accounts, etc. If you borrow from the bank, it will be an unsecured personal loan or signature loan-- based just on your credit and reputation with the bank. This is because the lender won't get any security for the loan until several weeks after the sale.
If you are asking "where can I borrow money to buy a home preforeclosure?", the answer is the same.
If you are asking "where can I borrow money to but a bank-owned home that was taken back through foreclosure", then you have lots of traditional options.