Re: buying a home while going through foreclosure
Posted by Mary Supinger on June 12, 2008 at 02:54:44:
In Reply to: buying a home while going through foreclosure
Posted by shawn on May 22, 2008 at 09:58:58:
Maybe! You need to speak with an attorney. I am a loan officer and credit specialist. The lender on the house you are buying will want to know what you are going to do with the house. When you say investment property, I assume that you have it leased. You would have to prove this to the lender on the new property.
You may want to consider a loan modification on the investment property. The lender may very well give you a better interest rate and terms if you work it right. Good Luck!
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