Foreclosures Help Information

Posts Tagged ‘buying’

Buying Foreclosures With No Money

Question: Is it okay to buy a foreclosed home?

Say, a friend is looking at foreclosures as a home. Say, the reason for eyeing these foreclosures, is money, paying less than a regular sale? Will buying a foreclosure impact your credit? I mean, is it good or bad to buy a foreclosure?

I need to know the pros and cons of buying a foreclosure.

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Answer: In light of what you've been told here, wait until the subject property your friend wants to purchase goes on the market. Most are listed after they are cleaned, inspected and the past owners are vacated.

I've been investing in properties for 25 years and have never purchased a foreclosed home at auction due to the fact of hidden problems and non-liability of the sellers...Good Luck!

15 Ways to Buy Property No Money Down - Real Estate Investing Training Video

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Mn Foreclosed Homes

Question: Whats the chances of me gettin a home loan?

alright here it is: I live in MN.. Im a first time home buyer and I make about $31,000 a year. I had a couple credit cards that slipped behind and may have gotten to delinquent but I consolidated and have made all payments on time for the last 7 months or so. I have one thing in collections for 98 bucks and I have always paid rent on time.

I also have a co person that is gonna get this loan with me. He makes $42,000 a year, but has a foreclosure from a past marriage.

Im looking to find a home between $80,000 and $135,000. Looking to find a little fixer upper. Also alot of foreclosed homes out there for cheap.

So Im basically askin on what the chance are for being Approved for a loan at most of $135,000???????

Please give some info and possibly who may be a good lender for this type of situation........

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Answer: Not enough info.

Your debt to income ratio is going to come into play here.

Both you and your co-borrower having sketchy credit will not help.

Really, I doubt you are going to get a loan at a good rate. With your defaults and his foreclosure, you are probably not going to get a mortgage. You are going to have to put some more distance between you and your finance problems in order to get a decent rate.

Minneapolis Foreclosures | Bank-Owned Homes | REO Listings in Minneapolis | MLS Listings Minneapolis

Tucson Foreclosed Homes

Question: Foreclosed homes in Arizona??

Is there any place (or any website) where I can find a list of foreclosed homes in Tucson, Arizona??

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Answer: I use the link below to find my forclosures in Arizona. Try it out.

Tucson Foreclosed Homes for Sale