Maybe you can add the bank that is selling the REO but not likely.The big problem is the amount you want to borrow is just too little for most lenders to make any money.

You be surprise...My brother is in grad school and hasn't have a job in his life and was giving a 375,000 mortgage for a condo in Boston....I've been out of college for 7 plus years and worked steady since then I couldn't even borrow that much.The point is go see what they will give you - it couldn't hurt right?

They are most likely "sub prime" borrowers and have not been able to refinance to better products so they have to get out.

"If" the deal is good enough-minimum 40% GP, and you're going to turn it quickly enough it "might" be OK.I don't borrow money so I guess we'll see what others say.all cash

Your exit plans should be short term when borrowing HML.

Thx for the info i was thinking of going straight to the lender but i see i have to actually get permission from the borrower first?

You as the lender on the sale collect monthly payments from the borrower.

I can borrow from hard money and use my 65,000 to do the repairs.

More common is 10 mortgages per borrower.

In theory you are asking about borrowing the cash out if you want to retain legal and economic title.As All Cash implies there is a bigger context in most cases.