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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] purchasing foreclosure need help Posted by Pattyk on June 30, 2003 at 5:27 AM I didn't start out looking for a house to purchase! However a neighbor that lives in my dream home is letting it go into foreclosure along with her Bankrupcy. I never thought I'd have an opportunity to live there but now I do! However it's now 30 days before the house is to be sold at auction on the court house steps and I do not have back from homeowner our Offer to Purchase Paper and can not get access to the home for the apprasial both of which I need for my mortgage consultant. There are still a few days left for this to happen in time, however I'm not hopeful she will pull her act together in time. (for anyone reading this whom is a homeowner I can't image not selling when there is a buy who will save you from the foreclosure!). My question is, if we can not buy home from homeowner, then I will have to pay cash to her mortgage company as I can not fullfill my requirements to MY loan company to arrange financing. I can come up with quite a large chunk of it and I have already talked with homeowner mortgage company and have a good idea of what to bid, considerably less than we offered the homeowner. I do have some background with real-estate inregards to rental property, but not with buying like this. I read some information on hard money lending and I didn't qualify for what I read about since this is under $500,000 and not mult-family or commerical property. MY question is: Is there money out there available to me for short term without apprasials on property and such? Enjoy reading this board! So much valuable information - looking forward to meeting Ward someday! WOW! (i assume that is your picture with your granddaugher!?) Thanks pattyk Missouri Follow Ups: Here's a doable deal.. Ward-CA- 12:54 AM, 06/30/03 (2) Re: Here's a doable deal.. Bob Pischke 10:32 PM, 07/03/03 (0) Re: Here's a doable deal.. Pattyk 1:22 PM, 06/30/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I didn't start out looking for a house to purchase! However a neighbor that lives in my dream home is letting it go into foreclosure along with her Bankrupcy. I never thought I'd have an opportunity to live there but now I do! : However it's now 30 days before the house is to be sold at auction on the court house steps and I do not have back from homeowner our Offer to Purchase Paper and can not get access to the home for the apprasial both of which I need for my mortgage consultant. There are still a few days left for this to happen in time, however I'm not hopeful she will pull her act together in time. (for anyone reading this whom is a homeowner I can't image not selling when there is a buy who will save you from the foreclosure!). : My question is, if we can not buy home from homeowner, then I will have to pay cash to her mortgage company as I can not fullfill my requirements to MY loan company to arrange financing. I can come up with quite a large chunk of it and I have already talked with homeowner mortgage company and have a good idea of what to bid, considerably less than we offered the homeowner. : I do have some background with real-estate inregards to rental property, but not with buying like this. I read some information on hard money lending and I didn't qualify for what I read about since this is under $500,000 and not mult-family or commerical property. : MY question is: Is there money out there available to me for short term without apprasials on property and such? : Enjoy reading this board! So much valuable information - looking forward to meeting Ward someday! WOW! (i assume that is your picture with your granddaugher!?) : Thanks : pattyk : Missouri Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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