Financing in Cincinnati>Question Details

Hung Pham, Real Estate Pro in Sacramento, CA

Is there a conforming product for an investment property that isn't private lending/hard money rates for someone that has a foreclosure 3 years out?

Asked by Hung Pham, Sacramento, CA Tue Oct 8, 2013

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no. conforming requires a 7 yr waiting period from foreclosures. There is talk about Freddie and Fannie allowing a shorter time frame for "extenuating circumstances" And I don't mean this to be flippant..good luck finding a lender who will offer that on an owner occupant loan let alone an investment property.

Your best luck for the time being is finding an owner who can land contract (contract for deed) the property to you until the foreclosure waiting period is over.

Hoping you find something that works out for you.

Scott Baker, Realtor
ERA REAL SOLUTIONS

513-227-5897 call or text
sbaker13.sb@gmail.com

scottbakersells.com
1 vote Thank Flag Link Tue Oct 8, 2013
Probably best to look for a lease purchase situation
0 votes Thank Flag Link Wed Oct 9, 2013
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