I buy foreclosures for myself and for clients and there is funding available. The agents below are right from the standpoint it does require cash and traditional lender does not provide point financing. If you do not have the cash you have to borrow "hard money". Typically the cost is 5 points plus 12% with 10-20 percent down. Obviously you want to refinance as quickly as possible and if you can with in the first 45 days of the loan you can get 1-2 points back.