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Foreclosure in Temple : Real Estate Advice

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Jim Simms, Real Estate Pro in Louisville, KY
Tue Nov 15, 2011
Jim Simms answered:
What you are describing is difficult but not impossible. Three areas that are probably going to be an issue, the purchase price, and lack of experience and loan size. A home of that value would not sell for that little at auction in my area, if it does it is an indication it should be torn down. You indicated it needs rehab, but did not specify what type of auction, however, what you are describing is not something most homeowners have experience doing. Finally, loan size, permanent financing might be tricky, our minimum loan for example is $50,000. Home this is helpful.

Info on Rent to Own:
http://www.trulia.com/blog/jimsimms/2011/11/rent_option_or_rent_to_own

Info on the criminal side of Credit Repair:
http://www.trulia.com/blog/jimsimms/2011/10/credit_repair_can_be_a_crime

Info on Down Payment Assistance in Kentucky:
http://www.trulia.com/blog/jimsimms/2011/03/down_payment_assistance_alive_and_well_in_kentucky
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