Foreclosure in 77009>Question Details

Kay,  in Texas

Agent Neogiating with the bank on a foreclosure, when the new buyer was the previous owner of home

Asked by Kay, Texas Sun Feb 1, 2009

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Don't think this will happen. Normally the lender will exclude previous owner from purchase from my understanding.
0 votes Thank Flag Link Tue Feb 3, 2009
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Paying cash? If the buyer was previously foreclosed on they will NOT be able to get financing.
0 votes Thank Flag Link Sun Feb 1, 2009
I am confused if the new buyer was the foreclosed on ? Or was previous owner property sold to another buyer, now wants to purchase the home.

I would doubt if buyer if foreclosed on would have credit scores purchase another home. It usually takes approx. 2 years - or + for another purchase.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sun Feb 1, 2009
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