Upcoming Foreclosures

Buying a foreclosure house?

Is there a program if you purchase a foreclosure house that's been sitting there for a while that the government gives you money or helps you out with repairing the house?

Public Comments

1. Nope. However, you may be able to get a HUD loan to help fix it up (this is not free money, but added to the mortgage to help you fix the property).
2. None whatsoever. If you buy a 'fixer upper', you need to somehow find the money to repair the house to acceptable condition. There is no free ride on such repairs.
3. FHA has a 203K program for that reason. Some counties provide money for first time buyers. And don't forget you get to take up to an $8,000 credit off your taxes if you purchase before the end of the year.