Property Q&A in Chelsea>Question Details

willy9, Home Buyer in Chelsea, AL

What bank has this foreclosure?

Asked by willy9, Chelsea, AL Sat Dec 8, 2012

Help the community by answering this question:

Answers

1
You did not indicate a specific property adress, but the actual owner of a foreclosed property can be very difficult to determine. In the end, the identity of the seller makes very little difference to the potential buyer. Only Fannie Mae and HUD offer any type of special financing for their REO properties. Once listed for sale, Fannie Mae or HUD will identify the eligible properties on their individual websites. With all other REO sellers, regular loan programs (i.e. Conventional, FHA, VA, USDA, FHA 203K Renovation, Jumbo, etc) would be used to purchase and finance the property.

When it comes to REO properties, you must wait until the property is actually listed for sale. REO departments of mortgage companies will not talk to or entertain offers from individual buyers. All offers to purchase an REO property must be submitted by the Listing Agent assigned to the property.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Sun Dec 9, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer