I am interested in a home in NJ that is bank owned and vacant. The home needs substantial work and updating to be livable. Listing price is 189,000. I was wondering if the owning bank would finance a mortgage for me in which I would finance, pay interest on and make payments for the entire 189,000 yet have the owning bank give me $40,000 back at closing for repairs. Or if they might give me a first mortgage of 149,000 and a second mortgage of 40,000 (for repairs). In either case the bank will still be getting full list price for that property. Can either scenario be done? Do you have any other suggestions for creative financing?