Upcoming Foreclosures

bank owned foreclosure?

how does financing work on a bank owned for closure, could a person still get the FHA or special financing.

Public Comments

1. You could certainly get an FHA loan to purchase a foreclosure. There is special financing, but like any financing you have to qualify. Visit with several local lenders who can provide FHA financing and ask them about the 203 mortgage programs to rehab a foreclosure. Just understand that if things in these homes are in working order, the lender will not allow money to replace or repair just because you don't like what's there. It has to be functionally inoperative before they consider it a need to repair or replace.