My sister an I have been thinking about purchasing a foreclosure home, unfortunately we were only approved for a 45,000 mortgage loan( and we have 2,000 saved up). We have been searching online and we saw many homes with a remaining loan balance under 10,000. Under our understanding, a hopeful foreclosure buyer pays what the previous owner owed and other taxes and fees. Would this add up to more than 100,000? Or how does this process work?
Posts Tagged ‘Purchase’
I It Possible To Purchase A Califonia Foreclosure Home For Less Than 50,000?
Sunday, June 7th, 2009How Do I Purchase A Foreclosure Home That Is Owned By The Bank?
Thursday, June 4th, 2009I have found several home in foreclosure that the property is owned by the bank what is the next step? How do I find the MLS numbers and addresses? How do I find out if the price listed is the selling price? How to bid on the property?