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Why are some of the homes are reduced?
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Hello Shavvan,
Buying a foreclosure to be used as a primary residence is a great way to build equity fast because usually foreclosures are deeply discounted in price. They also can be in need of repair or updating. A great loan for this type of situation is a FHA 203(k) loan. This loan allows the borrower to purchase the home and obtain funds for the repairs and updating – all in the same loan. If you are interested in finding out more about this type of loan please contact me.
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