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Buying foreclosed properties, fixing them up, and selling them looks. The drawback is that you will probably need to be an all-cash buyer if.
In the years prior to what’s been called the Great Recession, subprime mortgages made buying a home accessible to almost anyone. It’s estimated that 9.3 million homeowners went through foreclosure.
Before you take the plunge into buying a foreclosed home, make sure. Unless you plan to pay cash, you'll need a recent preapproval letter.
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The home-buying process can be exciting, whether you are considering new or existing homes or Cash, AR foreclosures. But remember, as you search for the right place, it is important to be a critical buyer, keeping in mind vital things like the location and condition of the home, whether it is within your comfortable price range and more.