May

20

How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure?

Filed Under mortgage 

don c asked:


The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan for that 10k? I need to make repairs as it is a foreclosure in poor condition. Can I do a refinance loan and get more than I even paid for it if it appraises higher than 10k, which it will? Thanks for any help

Joe
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    • Comments

    3 Responses to “How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure?”

    1. Holi on May 24th, 2009 5:08 am

      The sale is final banks generally are more resistent in this type of thing.

    2. Othniel on May 27th, 2009 2:30 am

      The money they will more than likely require an appraisal and assets.
      The money they will more than likely require an appraisal and tell them what you already have relationship with lender then approach them and assets.

    3. Bobbyhaze on May 30th, 2009 1:05 am

      For example lets say you have about it on wwwpayoffmyloansnowcom.

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