Can you get a mortgage allowing you to bid on a foreclosed property?
Filed Under (Renting & Real Estate) by admin on 05-09-2009
Die Bart Die asked:
Our realtor advises that only buyers with cash in hand can buy foreclosed properties at auction. There is a technical challenge buying if you need a mortgage as you have to be in contract to be able to get the mortgage approved. Is this true or is there a valid way you can get a mortgage and bid on a foreclosed property at auction?
Our realtor advises that only buyers with cash in hand can buy foreclosed properties at auction. There is a technical challenge buying if you need a mortgage as you have to be in contract to be able to get the mortgage approved. Is this true or is there a valid way you can get a mortgage and bid on a foreclosed property at auction?
