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Updated over 7 years ago,
Impossible Financing - can it be done?
Here is the situation:
- Bank-owned property currently inhabited by original owner.
- Owner wants to buy back property before being evicted.
- Bank bought home at sheriff sale Jan 2017.
- Property is in PA.
The plan would be to secure financing then make a settlement offer with the bank to buy the property back. Is there any way to finance this type of deal? My guess is that it's unlikely a bank would get involved but there may be private lenders who would give it some consideration.
Let me know if you have any ideas or can point me to someone who may be able to help.