buying bank owned homes: How to Buy a Bank Owned home
- 11/18/10 01:30 AM
Hello Mr/Mrs/Ms Buyer/Investor, Shopping for a great deal on a home? Bank owned homes can be a really great bargain. Here are some things that you should be aware of before going to look at homes. 1) You MUST be pre-approved for a loan before shopping. The banks who own the home will not consider your offer without some demonstration of ability to close.2) If you are paying cash, you MUST show proof that you have the cash. Get a letter signed by your banks branch manager on the bank letterhead attesting that you have available funds.3) If you are … (1 comments)
buying bank owned homes: Borrower Obligation to Preserve Property-No You Cannot Destroy even in Foreclosure!!!
- 01/16/10 09:08 AM
We all know that foreclosures are part of the real estate landscape now and likely to continue for at least another year probably more. Many borrowers are taking their frustration for their circumstances out on the house. What do you suppose gets inside the minds of borrowers who think that it is the lenders fault they quit making their payments? Now there are certain stories I have heard about where the lender receives the payments and does not apply them to the correct loan and forecloses anyway. Those are probably the exception rather than the rule. As an REO agent, I … (2 comments)
Hello Mr/Mrs/Ms Buyer/Investor,
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