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As explained in this comprehensive video about how FHA 203k loans work, there are a few important details your real estate agent and mortgage professional need to be aware of during the pre-qualification, purchase offer and closing process when dealing with FHA 203k loans.
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Buying a Foreclosed Home: How to Buy a Foreclosure in 5 Steps – · hard money loans. hard money loans are offered by a variety of lenders and are available to investors who fix and flip houses or long term investors looking for bridge financing. Bridge loans allow borrowers to buy a foreclosure and complete major repairs, then refinance when the house is more likely to qualify for permanent financing.
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