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Foreclosure in Shortsville : Real Estate Advice

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Fri Apr 15, 2016
MCM_STL answered:
The problem isn't what the owning bank will accept, the problem is what *your* lender approves.

If the home has too many issues, you simply cannot get a loan because the risk that you won't be able to address all of the condition problems is too high for your lender.

I think your agent is inflating the percentage of foreclosed homes that are purchased for cash though. Just because she's only dealt with it once doesn't mean it's that rare.
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