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Updated about 9 years ago on . Most recent reply
--House up for Foreclosure, Need Help--
Hello BP,
Hope everybody is getting ready for a great New Years! I am hoping you guys can help me out. I was presented with a potential property that has been foreclosed upon and out of auction. I have a current credit score of 650. the house is currently going for $24,000. The estimated value of the house has been calculated for upwards of $70k. How do I go about obtaining the maximum benefits and potential this property has to offer? What steps would I need to take to get this property? Any help would be greatly appreciated!
Most Popular Reply
@Tyler Richards If the property has already made it through the foreclosure cycle and did not sell at auction- next up would be for the bank to list it on the open market, then it becomes an official REO property. Until then it would be best to keep an eye on it to see when it becomes available. In the meantime you would need to figure out how to pay for it. Depending on the homes condition it could be a cash only deal or you may be able to get your own loan through a lender.