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Do I have to have cash to buy Reo/foreclosure

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I would like to fine a direct lender to give me a mortgage with a 3/% down I am looking to buy in NJ I am looking for a 2 fam home. Or I am willing to take over a mortgage for someone who is in foreclosure. How is that work. I try buy a house in Nj but I was told that I have to sell my current property in ga. I was turn down with a 760 credit score before i evenly apply to the bank. I was told That I cannot buy a house in NJ and live in Ga

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October 07 - US

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Aaron Wagner, "aaronwags"
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Aaron Wagner, "aaronwags"

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HogWash!!! There are ways to do everything!!! LOL

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October 09

FriendshipProperties
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You'll need 20-25% down for an investment property and the more property you own the more difficult. Some investors have the homeowner sign over the deed, put up all the cash to bring the loan current and then continue making the payments, but thats not recommended b/c the bank can call the loan paid-in-full upon transfer of title.

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October 07

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Related Questions

Question What do you think of the Seattle foreclosure market?

Question how does one go about purchasing or even viewing foreclosures?

Question How does a NZ citizen own a home in Georgia

Question can I buy a house that is bank owned, and I pay cash,

Question if a house is listed at 40000&lt; can I offer 20000?

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Question if a house is listed at 40000< can I offer 20000?