I live in NY State. My question is has anyone who has ever gone to there bank, picked up there ROE book and ask to purchase the property as long as they ( the bank) take back 100% financing? :shocked
They have some flexibility. If you have a long term relationship and track record they may be willing to create something creative.
Banks want to sell their REO outright, they usually don’t want to provide financing. However, if the property is not selling then the bank needs to cut its losses and having a paying loan on the books is preferred to having a non-earning REO. Never hurts to ask.
Thanks for the in put :smile
I’d be surprised if there were some that would take back 100% financing…let us know if you find any
I just saw a webinar with John Alexanders members on just this subject with the guest speaker Mike Watson, here is a copy of the invite:
’m inviting you to join me Thursday night (tomorrow) for a cutting-edge technique training session on how to get Banks to “Seller Finance” their REO and Short sale properties.
That’s right, they own them outright and are letting those who know what to ask for… to take their properties off their hands complete with built-in financing with no qualifications on your part.
Get off the sidelines. Let us show you how to create a small profit like $10,000, or a huge six-figure payday with monthly payment checks written to YOU!
Mike and I will detail exactly what you need to know to quickly get up to 100% financing on Bank owned property… even apartment buildings.
This Webinar is going to be full, so make sure to register now.
It will be very heavy on training you how to do this yourself, so be ready to take good notes. And hit your local banks the next day.
You don’t need cash or credit to do this.
the course was 995, but apparently valued at over 4k, but it discusses wrap around mtgs and getting financing from banks step by step…google him and you might be able to find more info or ask him directly about it,
I actually thought it was a great idea and could be done but haven’t done anything like it…but great idea, thinking out of the box. 
Here’s the webinar MNShortsaleREO was referring to:
http://www.mikewatsoninvesting.com/mikevsbank/
ROI