I have just gone through a divorce so I have built up a lot of debt and have a question about buying a house. If I find a house worth $400,000 but selling for $300,000 in foreclosure, can I get a loan for $400,000 and roll my debt into it? I have a very good salary ($120,000) and I would like to buy a house now and find a way to alleviate my debt due to my divorce.
Although there is a remote possibility you could find such financing, it is highly unlikely, at least from a conventional source. Banks and most other mortgage lenders would not look favorably on such a proposal, particularly as the mortgage lending industry struggles to recover from recent losses.
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Although there is a remote possibility you could find such financing, it is highly unlikely, at least from a conventional source. Banks and most other 