Upcoming Foreclosures

Can you buy a property (cash) after foreclosure ?

lender just foreclosed on one of my properties because they don't want to negotiate on a loan that i owe at least $ 150,000 more than the current value. so ( i had 3) now i only have 2. there's one that I'd like to buy out of my 401 K, cash.

Public Comments

1. If the bank has actually completed the foreclosure and owns the house you can certainly buy the property from them. You may want to do it anonymously through a trust to avoid deficiency judgements.
2. Hello my Brothers And Sister.. How are you doing?, i just read your post and i decided to give you an advice,pls if you want to get loan fund i want you to be very careful of those hoodlums that call them self loan lenders,they are all scam,all they want is your money and you will never receive anything from them,you need to be very very careful my friend and the reason i am telling you this is because i have fall a victim so many times and i have lost more than $40,000 to those hooligans and i have promise myself never to trust anybody again until a very closed Rev of my directed me to one Good Loan Company and the M.G name is Mr Namdack Cho and i was so happy that i was able to get loan from him after so many pains and tears i went through,and i must advice you that you should not contact anybody that will destroy your happy and feeling but if you must contact any body i will like to refer you to Mr. Namdack Cho. and you can contact him via (info.namdackloancompany@gmail.com).He… is a very nice person and he help me even when i told him that i have bad credit score. contact him i know that he will help you and i want you to tell him that i Mrs. Marry Bush directed you to him. Regards Marry Bush.
3. This makes little sense, you will still owe the deficiency amount anyway, this is investment property. The bank will not sell to you or any of your known relatives.
4. You may purchase this property at the foreclosure sale or after the lender list it as real estate owned (REO). If you have the cash to purchase the property, why not just bring the mortgage current? This make better financial sense as you will get a 1099 from the lender indicating they had a loss on the sale of the property. Since they had a loss, someone had a gain. That someone is you as the recently past owner. With the gain you would be required to file and pay income tax on this gain. You should consult with your tax consultant and/or a real estate attorney concerning this transaction. I hope this has been of some benefit to you, good luck. "FIGHT ON"