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Updated about 8 years ago,

User Stats

3
Posts
1
Votes
Gabriel King
  • Investor
  • Hayward, CA
1
Votes |
3
Posts

Bay Area Investor

Gabriel King
  • Investor
  • Hayward, CA
Posted

Hello my name is Gabriel.  I've been investing in real estate since 2006.  I own a handful of properties in the East Bay.  I'm a seasoned investor but looking to expand my portfolio.

I've been a lurker on this website for a while but his is my first post.

I've purchased properties at Trustee's Foreclosure sales (Alameda, Contra Costa and San Mateo Counties).

I have a question:  Would any lender provide financing if a property was purchased all cash at Trustee's Foreclosure Sale?

Here is Fannie Mae's criteria:

The original purchase transaction is documented by a settlement statement, which confirms that no mortgage financing was used to obtain the subject property. (A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)

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