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would I be able to get a loan to buy a foreclosure?

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cynthiahorton Joined: 12 Aug 2009 Posts: 1 1.29 Dollars($)	Posted: Wed Aug 12, 2009 10:32 am    Post subject: would I be able to get a loan to buy a foreclosure? Like 0 Dislike 0 we have found a house that we really like, but it is a foreclosure and the house is going to need new carpet and the walls are going to have to be painted.We will have to get new appliances. Please tell me where I can find a loan.
knalaweyei17 Joined: 25 Jul 2009 Posts: 23 14.64 Dollars($)	Posted: Wed Aug 12, 2009 12:32 pm    Post subject: hi Like 0 Dislike 0 talk with any bank member....
JKennedySLG Community Expert Joined: 01 Apr 2009 Posts: 408 Location: New Jersey/New York 20.05 Dollars($)	Posted: Wed Aug 12, 2009 12:46 pm    Post subject: Like 0 Dislike 0 Speak with the realtor on this property and simply ask if this is a mortgage-able property or not. There may be other issues with the property which may keep you from getting financing. If there are no issues with the property aside from the walls and carpeting, you may be looking at a 203k loan. This will get you costs to rehab as well as the purchase dollars. I hope this helps... _________________ James Kennedy New York/New Jersey (732)979-7409 Hard Money & Stated Income Loans First Time Home Buyers (540+ Credit)

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