ED GARCIA - PRE-QUALIFYING - Posted by diamond

Real Estate Investing Real Estate Financing
#1

Posted by fred arndt on March 26, 2002 at 16:48:47:

I am a mortgage broker in the chicago area and it is very hard to get a loan unless you have a purchase contract from the seller and an appraisal with all the supporting docunentation. You should try contacting the person who is going into foreclosure and try to buy it from him before the sale. If you should need help with getting a mortgage to purchase this property please email me with your name and phone number and I will help you with this situation

#2

ED GARCIA - PRE-QUALIFYING - Posted by diamond

Posted by diamond on March 25, 2002 at 15:39:40:

I am interested in purchasing a condo at the sheriff’s sale on 4/16 in Chicago and will need financing. I need to pre-qualify for a mortgage and need to know what I have to do. The condo is being foreclosed on for 22,000. The market value is about 45,000. I want to pre-qualify for as much as I can just in case I don’t get the bid on this property and can therefore bid on another property I am interested in.

How do I go about doing this and be able to get the money transferred to the lender within the 48 hours allowed when buying at a sale?

Thanks for your help.