HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

Banks 75

Banks Inspection contingency Inspection FHA loan 75

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval 89

Pre-approval Pre-qualification FHA loan Inspection 89

Easy Agent Pro

DECEMBER 29, 2020

In February, pre-CARES Act, 10,438 FHA loans were in foreclosure. If it doesn’t sell, it becomes a REO (real estate owned), or bank-owned property. Gather contact information for banks and asset management companies. In August, after the Act was passed, only 352 foreclosures were started.

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FHA loan Agents Loans Sales 83