Financing Options For Buyers Of Foreclosed Homes

SOURCE: Mortgage News Feed

Foreclosed properties often create a Catch-22 for buyers. On one hand, they can provide a chance to buy a home that may cost much less than comparable sites in the neighborhood. But because many of these homes need substantial repairs, private lenders tend to be skittish about financing foreclosure deals. See The Pitfalls of Buying A Foreclosure House. If you can pay for the property and any necessary renovations in cash, you’re in an enviable position.

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