There is no address or anything, we need some information as to what house. Further, there is no way to estimate what foreclosure auctions will go for. Banks and associations foreclosing will bid up to their final judgment amount as they have a credit bid for that much; they want to get back more than is owed to them. Further, if this is n association foreclosure auction, you need to be 100% sure there is no mortgage on the property as it is superior and can still foreclose on you after you pay money for title from the association.
You need to get yourself a lawyer ASAP before doing anything.
Disclaimer: I am a Florida attorney and licensed Realtor. Information posted or made available on or through this site is not intended as legal advice or to create an attorney-client relationship between you and any attorney/our firm until officially retained. You should consult an attorney for advice regarding your individual situation since every case is different and not all information is relayed in an online question.... more
Borrowers with an AGI less than $100,000 can deduct 100% of their PMI premiums. The PMI tax deductions are effective for both home purchase and refinancing transactions. Depending on household income, both FHA MIP and USDA can be deductible as well.
US Mortgage Lenders - Thomas Martin
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Yes 10% down is required by FHA if your credit score is under 580.
No, 10% will not be your interest rate but your rate will be higher than average because of your credit score.
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I wrote a best selling book on the subject; you can read it free on Amazon Prime. When you're ready, be sure to hire an Exclusive Buyer Agent to represent you. EBAs represent homebuyers only so there is no conflict of interest to jeopardize your negotiating position. Visit naeba.org for a referral.
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