How to Finance a Foreclosure

How to finance a foreclosure with traditional financing, cash, or hard/private money.
Foreclosures are a great way to purchase a property with equity, but financing a foreclosure isn’t the easiest of things to do.

How you fund a foreclosure largely depends on two things:
1. Access to the Interior
2. Time Frame

If you have access to the interior of the property, an internal appraisal or inspection can be completed. This is a requirement when dealing with traditional banks. If you do not have the ability to access the interior or the property, financing the property with a traditional mortgage is not likely.

Foreclosures are also often a very urgent matter. Traditional lenders aren’t very good about working on a timeline. Consequently, funding a foreclosure is difficult with a bank if you have a window of 30 days or less.

Effective ways of financing a foreclosure is with cash, hard money, or private money.

Cash is fast.
Private Money is cheap.
Hard Money is effective.

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