Financing foreclosures is the part of this business that people are worried about most. Most people automatically assume that you have to have money to invest in foreclosures, which is what keeps them from investing. You will be happy to learn that you don’t have to have money to start investing. Obviously everyone is in a different financial situation, so not every technique we share with you will work. You just need to find one that works for you and go with it. Even those with bad credit, no money, or no job may capitalize on foreclosure opportunities. In fact, financing foreclosures is the easier part when it comes to buying foreclosures, finding them can be the biggest challenge, unless you know where to look. These are all great techniques which we discuss more in depth in our best selling foreclosure ebooks.
The following are 10 techniques used in financing foreclosures.
Technique No. 1 Assume Seller’s Obligations
Technique No. 2 Borrow Against Life Insurance Policy
Technique No. 3 Transactional Funding
Technique No. 4 Home Improvement Loans
Technique No. 5 Home Equity Loans
Technique No. 6 VA Loans
Technique No. 7 Find a partner
Technique No. 8 Hard Money Lenders
Technique No. 9 Use Banks and other lending institutions
Technique No. 10 Take over "Subject To" existing financing
These are just a few options you have when financing foreclosures. There are many more ways to creatively finance these properties.