In a foreclosure. If I have the seller deed me the house and the house has enough equity, can I take out some of it to fund the rehab at closing?
That will depend on your lender. Most likely you will need to look at construction type loans to get money out or Hard money lenders.
Thank you…
ck with Sun Trust Mtg. they have a loan allowing you to deed onto title, pull a new pre-lim to show you on title; refi based off appraisal, pull cash out, and kick the current owner off at close… warning; can not be in a declining value area based off appraiser.(stable or increasing value area)
good luck