I am an investor and I buy foreclosures, and I don't flip properties, I rehab them. I have numerous properties and I bought one the other day and the lender, BofA, made it very difficult for me. It was a cash deal and I was not borrowing the money from them.
All over the country you can buy forclosures at a discount and they offer to pay closing cost, but since I am an investor, they want a $1000.00 over list price and they are not paying for any closing. Is that right; can they do that, and is it legal? Have you heard of this before?
We don't know if the bank's actions were legal, and are not aware of any prohibition. It's apparent that the deal was still enticing enough for you to go forward with it. If you didn't like the business deal, you could have walked away from it.
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We don't know if the bank's actions were legal, and are not aware of any prohibition. It's apparent that the deal was still enticing enough for you to go forward with it. If you didn't like the business deal, you could have walked away from it.
