how can i buy forclosed homes with zero down payment?
463851
Get a loan on the home that is for the amount that the house costs, and the difference between the worth and the cost could be considered the down payment?\n\nOr, get another person to invest the down payment, with promise of high interest with the repayment. Since it's foreclosed, I'm assuming that the value is higher than the price, making it an attractive investment for your partner.\n\nOnce you buy it, you can\na) sell it, and pay your partner with interest from the profit\n\nb) rent it and do the same\n\nc) live in it yourself, and with the money you are saving on the monthly payment, repay the partner
986028
Find a company that offers low or no closing costs and get a mortgage....it is a lot lower interest rate and you can take it out for 15, 20, or 30 years to control the payment amount.\n\nMike\n\n==============
1036752
If a company is offerring you zero down on a list of foreclosed properties that they have in inventory, they are usually offerring something called "lease purchase option". Which means you pay a non-refunable option fee to lease a property. A portion of your payment gets applied towards your down payment should you decide to buy the place. It's an excellent program for people who have bad credit, but the drawback (and what they are hoping for) is if you ever miss a payment, you no longer will be able to purchase the property. If you ever do something like this, always record your option to protect your interest in the property.\n\nFind out how the program works and e-mail me. I will tell you exactly what they are doing and what to watch out for.  When it comes to creative real estate investing, I hold all the cards.\n\nRegards
923890
There are a lot of scammers out there, so-called real estate gurus who will sell you a program outlining how to buy and sell real estate using absolutely no money, but those schemes are unrealistic, almost impossible, and illegal in many states.\n\nDepending on your credit and income, you can qualify for a no down payment loan for an investment property and the seller can contribute up to 2% of the sales price towards your closing costs. So you would need some cash for closing, depending on the sales price.\n\nRick\nwww.fairwaymortgagelending.com
1119470
You need to try a first time buyer loan, look for an ad that says something like "I can get you into a house for the price of a steak dinner", these ads are usually for real.  It is a government grant that basically garuantees your down.  Then get the sellers to pay the closing costs.
174627
look into the hud programs:\n\nhttp://www.hud.gov/\n\nIn the at your service section there is section 8 for renting and buying a hud home and hud approved lenders.\n\nIf you don't have ajob then you won't be able to buy a place, if you do then you might be able to get a place for cheap.\n\nIf you can get a place that needs work start going to a large church and ask the pastor if there are any people in the church willing to come help fix it up and you can get your own "habitat for humanity" crew.
994951
1. Never believe anything\n2. Check on termite papers on the house(this require in most states)\n3.Have a certified electrician inspect the house for faulty wires\n4.IF the house is more than 30 years old have it be checked for lead seeing as if the lead can be in water supply and call mental illness.(older house have lead based paints that chip off over time that young children eat can cause them to be sick)\n5. If it is a foreclosure make sure that you finalize soon\n6.Have the house appraised by a Home Inspector(not an appraiser) the appraiser works for the gov.t and wants to value the house higher that way you pay higher taxes. Ex. a house that is appraised at $250,000 will pay $1,500-$3,000 in taxes while a $100,000 might only have $500.00(APPRAISERS DONT CARE THEY WORK FOR THE GOVERNMENT.THEY WILL VALUE A $50,000 AT $70,000 JUST TO PAY HIGHER TAXES!!!) IF THEY SAY IT THAT MUCH ASK TEHM IF THEY WOULD BUY IT FOR THAT!!!\n\n7.Never but a down payment until you are sure you want the house
353503
YOU CAN GO ON DUN AND BRADSTREET'S WEB SITE AND THEIR RATE ALL BUSINESSES.  BUT, BEFORE YOU BUY RIGHT OUT, IF YOU QUALIFY FOR A MORTAGE FROM THEM, THEN YOU CAN QUALIFY ANYWHERE.  CHECK WITH YOUR CITY OFFICE AND SEE IF THEY HAVE PROGRAMS.  IN COLUMBUS, OHIO THEY HAVE A PROGRAM WHERE THEY PAY THE DOWNPAYMENT AND ALREADY HAVE LENDERS THEY WORK WITH.  ALSO CHECK FOR FORECLOSURES, HUD, AND AUCTIONS.  YOU MAY GET A BETTER DEAL.  ALSO GO ONLINE AND SEE WHAT OFFERS YOU GET.  IF YOU FEEL WORRIED ENOUGH TO ASK ABOUT THEM, MAYBE YOU SHOULD LOOK FOR ANOTHER LENDER.\n\nJJ
1164368
Some new developments offer purchasing opportunity for low-income people.  They offer the houses at below-market rates.  Check your local area for new developments and see if they have such a program.  I think they're called VMR.
278560
I'm not sure what your asking here, but, forclosed homes are property that the bank or finacial institutions seize. IF someone files bankruptcy than it's a possiblity they may be able to keep their home on a repayment plan or some sort.  Hopefully, this helps.
1146033
When you are purchasing a property through the foreclosure auction, the person conducting the auction has to verify the funds prior to the auction.\n\nAt the auction you must have cash or a cashier check and that's the bottom line. There is no down payment, You have to have the full bid price in order to be successful at the foreclosure auction.\n\nThere is no 24 hour period in order to get or secure the funds. If you don't have the funds at the auction you can not bid or be allowed to bid on a property.\n\nI hope this has been of some use to you, good luck.\n\n"FIGHT ON"
1019742
No, there are ways to get into foreclosures with very little to no money.  Try http://mwdbol.refortunes.hop.clickbank.net\nI bought this several months ago and just got my first foreclosure, and i am a student in college.  He knows his stuff, check it out.
1181719
pick up a homes magazine, there should be forclosed homes in there. U can always go to palm harbor homes and find a mobile home, or search online for forclosed homes in ur area. My 1st house was forclosed and we bought it for almost $40,000 less than appraisal value. Good luck!
773401
Yes there are.\n\nThere are mortgage product available for owner who just received a "notice of Default".\n\nIf however the bank or lender repossesed the property or it was sold in an auction you would have to come up with private funds to redeem your property back.\n\nIf you are in California and need assistance in foreclosure bailout loans we can help\n\nRommel Mijares\nMortgage Specialist
775347
In light of what you've been told here, wait until the subject property your friend wants to purchase goes on the market. Most are listed after they are cleaned, inspected and the past owners are vacated. \n\nI've been investing in properties for 25 years and have never purchased a foreclosed home at auction due to the fact of hidden problems and non-liability of the sellers...Good Luck!
69856
There are many loan programs that would offer you a 30yr fixed product and little or no closing costs.  Write me an email if you would like to ask additional questions about the process or if you would like a quote. Check my bio (by clicking my screen) for my email address if you like.
484080
Two ways.  1) start with local lenders.  They usually have in house first time homebuyer mortgage products offered to the low to mod income homebuyer unless you purchase in a targeted neighborhood and then there are usually no income limits.  Typical program is low down payment, allows grant usage and may give assistance or a loan for closing costs.  2)Contact a local housing counseling agency.  For a list of agencies go to www.hud.gov.  \nThey offer housing counseling (so you know what you're doing) and may have down payment assistance or direct you where you can apply.