Foreclosure in Harvey>Question Details

Carltillmanjr, Home Seller in Harvey, IL

can i buy these properties using loan asumption and turn a profit?

Asked by Carltillmanjr, Harvey, IL Sat Jan 16, 2010

Help the community by answering this question:


Hi Cartillmanjr,

Yes you can. Some loans are assumable loans and you need to take a look at the paperwork. Your credit rating is often used to confirm you can qualify for the loan assumption. Another way that is very popular in your state is through a Land Trust you take over the property by Subject To the existing financing. There is a class in San Francisco on this and another type of an expert in Florida. Here are two links to assist you learn more about this strategy.

Good luck!
0 votes Thank Flag Link Sun Jan 17, 2010
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