Check to see if there are any wholesaling companies in your area. By this I mean companies that go to trustee auctions at the court house steps and buy up houses, then sell them to investors for a quick wholesale flip. Many of them also loan money. I know of several in my state. The interest is quite high - around 18% but if its the only way to get cash quick, it might be worth it.
Forgot to add ... most will approve or disapprove in hours and fund fast.[ Edited by cherdwelth on Date 07/16/2006 ]
Do you mean a VA/FHA forclosure?
You would have to look at the DUE ON SALE CLAUSE...... If a seller transfers the property, then they have the right to call the loan due in full....
The owner would not be able to take out another VA loan until the original was paid off....
Check to see if there are any wholesaling companies in your area. By this I mean companies that go to trustee auctions at the court house steps and buy up houses, then sell them to investors for a quick wholesale flip. Many of them also loan money. I know of several in my state. The interest is quite high - around 18% but if its the only way to get cash quick, it might be worth it.
Forgot to add ... most will approve or disapprove in hours and fund fast.[ Edited by cherdwelth on Date 07/16/2006 ]