I have a mortgage and i refinanced and i want 2 some how find a foreclosure house in redford please help?

Cristin
I want 2 find some a way to buy a forclsure house in redford and some how pay of my own ... by the way i have bad credit...

Millicent
You are not getting a second house with bad credit, period.

Augustus
If you have bad credit, you won't qualify for a second mortgage. Also, you would need at least 20% down for this second home or investment property. Instead of trying to buy property, get your credit back on track. Sounds like your priorities are a bit out of kilter.

Cody
I am not sure what state you are looking in but most foreclosure auctions require cash for the property meaning you really can't get a mortgage for it anyway. You have to get it from your own savings or personal loans or borrowing from others. The find a house generally look in the legal notices of the local newspaper. In most states they are required to publish the notice in the newspaper that the house will be up for auction. The address, auction date and approximate price will be on there. However these have to be bought without any internal inspection so you never really know what you are getting. It is risky.

Bethanie
With challenged credit in this market you will be hard pressed to find a lender. The proceeds from your current mortgage may allow you to buy a foreclosure but remember that in this tight credit market your buyers will have difficulty getting financing, if they have cash they will buy a fc themselves. You will continue to pay for the credit applied to your current loan, and with challenged credit it will not come cheap. Good luck paying down your loan, that is the best part of your plan.