Best online forum for mortgage and foreclosure purchase investments?
Can anyone give me a good online forum to ask questions about buying foreclosure property?
Is was mostly wondering if it is (roughly) possible to get a purchase a foreclosed property, and then get an equity loan and that same property.
For example, a condo costs $ 20,000, I pay half up front and finance the remaining $ 10,000.
The property is worth $ 40k, can I get an equity loan for the $ 20k equity, pay of the mortgage, and use the remaining $ 10k for repairs and improvements?
Or is it unlikely for a bank to give an equity loan in that situation? Assuming credit and everything else checks out.
A good online forum would be awesome but answering the question would help too, thanks 🙂