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Updated about 1 year ago on . Most recent reply

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24
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12
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Thomas Key
  • New to Real Estate
  • Birmingham, AL
12
Votes |
24
Posts

Buying a Forclosure to do a HouseHack

Thomas Key
  • New to Real Estate
  • Birmingham, AL
Posted

I am looking to do another house hack and I am currently house hacking. A property of interest I saw is a foreclosure, it states it’s, “a Fannie Mae property.” What should I be thinking about, seeking any good advice and what are the risks? I’ve heard people that previous owned the property could but it back during a certain period. Thanks so much. 

  • Thomas Key
  • Most Popular Reply

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    Andrew Postell
    #1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Lender
    • Fort Worth, TX
    6,321
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    7,936
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    Andrew Postell
    #1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Lender
    • Fort Worth, TX
    Replied

    @Thomas Key this should probably be a discussion that you have with your lender.  If their loan has requirements for the property type of thing or if they even have renovation loans (if that's even needed).  I would recommend speaking with your lender on this topic to know the answers here.

  • Andrew Postell
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