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Bank Foreclosures

I call BofA to ask about a house they have in stock. I ask if they want to finance it and I need a score of 680. Why would they want a 680 score can someone explain that.
  • May 17 2011 - US
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Answers (2)

Best Answer

Various things could dictate why BoA wants a specific credit score. 
It could be their internal guideline, or what the investor(lien holder) who wants that specific guideline to restrict the deed.

Best way to go about is to ask a Realtor who could communicate on your behalf to the listing agent or simply ask the listing agent directly.

Good luck
  • May 17 2011
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As Albert stated it could be the type of loan required to finance the home may require the score that they are asking. You do need to work with an agent in your local area and they can drill down to that level of detail for you. That is your best way to learn more. Best wishes!
  • May 17 2011
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