Re: Foreclosures

Asked by Robert, Philadelphia, PA Thu Apr 16, 2009

I have been pre-approved for an FHA approved loan and a first time homebuyer. Is it possible for a homebuyer like me to purchase a forclosure with an FHA loan (given the house meets their standards).

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Voices Member’s answer
Voices Member, , Benton County, OR
Thu Apr 16, 2009
Robert, Buy one of these.........

This will provide you with the links to the Bank/Gov site where you can find all the purchase/bid info/requirements and view the properties (REO/Foreclosure) they have available.

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Jennifer Day…, Agent, Phoenixville, PA
Thu Apr 16, 2009
Hello Robert,

Yes it is possible however unlikely that you will find a foreclosure in good enough condition to go through the FHA appraisal. There is a loan...FHA203K...which is additional money placed in escrow to do repairs that need to be done. this might be something you want to discuss with your mortgage lender.

If you have any additional questions feel free to contact me at 610-999-7693.

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Producing Realtor 2004, 2005, 2006, 2007, 2008
610-999-7693 Direct
610-489-7355 Main Office
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