Financing a foreclosure auction property...and hard money lenders.

[MAhousehunter]

rjrcm - thanks for your post. Eviction is definitely another concern of mine. I think I will likely be passing on this particular property.

[Jo-elevans]

I know it's been a while since the last post on here but can anyone tell me contact info for these hard money lenders that will put up funds for auction houses.

[Charlotte7335]

Dear MAhousehunter:

Go to town hall and look up the tax records or online and see who is the lender. Each state is different on whether it is a foreclosure, tax foreclosure. You are going to have to due diligence search whether their are any liens on the property. You can talk to an real estate attorney and they can help you. Also call FHA.gov and HUD they can probably help you. You might also get into the IDA program in your state (Individual Development Assistance) this is a program run by each state to help you become a homeowner. Some states do a match money deposited in a IDA program account. Some cities even have homeowner assistance and even a rehab loan program. Go on [url=http://www.zillow.com]Zillow: Real Estate, Apartments, Mortgage & Home Values in the US[/url], look up the address of the house it will give you an estimate of what the value of the house is approximately and also what other houses in the neighborhood were sold for. I got bold and went to the lender myself after the auction (it wasn't sold) and negotiated myself. Banks don't want to hold on to houses and will sometimes make arrangements with them. But see if you can do a FHA loan, the rates are cheaper.