Posted by Jim on November 06, 2000 at 15:31:47:
Foreclosures are often looked upon by lenders as something worse than a bankruptcy, in that it goes against everything they represent in the mortgage world. So, yes, please avoid it at all costs.
As both a lender and a broker, I can offer you some advice, provided I have the outstsnding balannces on the homes in question, as well as the reasonable market value of each, occupancy of each, if any are currently behind in their payments, and rents vs. mortgage payments, taxes, etc. and your timeframe for moving. Thanks!
Jim Flood, President