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re: Buying a foreclosed home
Posted on 5/19/12 at 5:38 pm to FunkyTiger
Posted on 5/19/12 at 5:38 pm to FunkyTiger
I have no idea what to even ask. My friend tipped me off of a foreclosure in his neighborhood. It's an awesome looking home and just don't even know where to get started. Who would I contact about finding out what bank the loan was drawn on? What kind of loan is needed for a foreclosure?
1
Posted on 5/19/12 at 5:48 pm to KingRanch
Easiest way is to talk to a realtor. If the house if up for "sale/auction" they'll know where to go. You can get a conventional loan just like any other mortgage. But, just so you know, if the owners just "moved out" it can take up to 2 years for the house to be fully foreclosed. Takes a long time brother. 
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