Buying a Foreclosure
So many foreclosures, why can’t I buy one?
Well you can, but unfortunately most of them can not go on standard FHA or VA financing because of the repair required to complete the financing. Most of the banks that are holding these properties are not willing to work with the special buyer programs that are out there. So typically the only way the majority of them sell is to investors for cash.
This is why the Michigan Community Development program
is so important. It works 2 ways.
1st.) It works with these foreclosed homes and brings them to you. Either by buying the home that fits your needs. Then renewing it with your involvement, you pick the color of the ceramic tile, the carpet, the roof , the cabinets and the paint. Its like you are building a new home. You can even join in on the repairs and things like lawn maintenance (if you want to) and receive credit which will lower you house payment .
2nd.) If you're in a hurry, we have several homes that have been completed , or are in the process of being completed, that you can chose from.
In most cases you can move in and rent the home until the purchase is complete.
It doesn't get any easier than that!
Michigan Community Development
Building Communities. One Home At A Time!
