Foreclosures

ForeclosureGetting Financing For A Foreclosed Homes are a fact of life.  Which means that buying foreclosed houses is a fact of life too.  So is buying foreclosed houses with a mortgage loan.

Foreclosed properties can be sold at the sheriff’s sale (auctions) or from the lender or from a Government agency.

Buying foreclosed properties at auctions can be done with a mortgage loan.  As long as you have a way of closing fast.  usually, you have to have all the funds within 30 days. Mortgage closings have been known to take longer.

Yes, many have taken 30 days or less.  So, yes, it is possible.

Buying them from a bank or the Government is different: these are not typical sellers.  But getting a mortgage on a property you’re buying from a bank or the Government is no different than getting a mortgage on any other property.