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Is it possible to use FHA on a foreclosed property?

Riverside,CA | Aug 2nd 2011
by j888r_944
Answer


by PaulCampos

Yes you can, if you would like a preapproval please call me at 714-283-1045 x 2221 or email me at pcampos@myinstantcapital.com

Aug 2nd 2011
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by fstadler

Yes, if the house has safety issues they will need to be repaired prior to closing which can be an issue as most banks sell reos as is. If need repairs you may need to get an FHA 203k loan. Which will give you money for the repairs that are non structural in nature.

Aug 2nd 2011
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by Thomas....

Yes... and if it is owned by HUD (foreclosed by FHA) then special financing may be available.

Aug 9th 2011
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