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Updated over 4 years ago,

User Stats

19
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9
Votes

How to buy a foreclosure without cash

Posted

Hello,

In October there's a foreclosure auction of a SFH that has been published at action.com for a while and I'm interested in it. Buyer needs to provide a check with funds at the time of the auction.

The house most likely will go for +300k and I don't have that much in cash. I could put 50k, so I need a loan for the rest.

Is there any way I can have a loan with funds? Or in other way, how can I participate in the auction?

Don't want to ask money to families or friends, so I was wondering if there is any sort of loan that I can do. If I won the auction, then I would request a conventional mortgage loan to pay the previous loan.

Any ideas or suggestions?

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