Realty Biz

JUNE 20, 2023

Understanding Foreclosures Foreclosure is a legal process where a lender attempts to recover the balance of a loan from a borrower who has stopped making payments. The lender does so by forcing the sale of the asset used as the collateral for the loan, typically a house. Financing: Foreclosures can sometimes be challenging to finance.

Due diligence 74

Due diligence Hard money loan Inspection Title 74

HomeLight

AUGUST 31, 2021

Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. For example, a homeowner and lender agree to sell a house for $200,000 even though there is a balance of $250,000 on the mortgage loan. Bank-owned/REO sale.

Pre-approval 108

Pre-approval Short sale Banks Finance 108

HomeLight

SEPTEMBER 30, 2020

The online-style auction can also help save you from spending money blindly. “An An online option like a real estate owned (REO) property, you’re not spending any money into it,” says Durham. You’re not spending any money into it until after you’re under contract and based on your inspection.”.

Due diligence 98

Due diligence Hard money loan Finance Banks 98

HomeLight

MARCH 10, 2023

Financing your flip in New York Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding. FHA 203K Mortgage : This option allows homeowners to finance up to $35,000 in repairs identified by an FHA home appraiser or inspector. Wise agrees.

House Flipping 100

House Flipping Renovation Investor Finance 100