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
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.
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0 votes Thank Flag Link Sun Feb 1, 2009
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