Are there a lot of risks or could this really be an opportunity?
2007-11-02 09:27:25 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If there is such a program, I've never heard of it.
It certainly doesn't make any sense to me: The government volunteering money to help *buyers* of foreclosure property, as opposed to first time buyers programs (which only care about dollar amounts, not the current foreclosure status).
If I had to bet a nickel on whether it was a scam or not, I'd bet it was.
2007-11-02 10:08:30 · answer #1 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
I have to agree with the other posters on this one. I've never heard of such a program, and I am a real estate agent. I suspect you are getting scammed by some organization trying to foist themselves off as somehow being affiliated with the Federal government.
Proceed VERY carefully, if at all.
2007-11-02 10:11:36 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
The only goverment program is HUD/FHA and they don't deal in pre-forclosure homes. Just because a home is in forclosure or pre or forclosed, does not mean it a good deal. Most of the forclosed homes now have more owed than they are worth. Thats why the owner could not sell them or refi.
2007-11-02 11:00:38 · answer #3 · answered by Leo F 4 · 0⤊ 0⤋
You need to verify that it is real. I have not heard of any programs where the tax payers were paying for investments.
2007-11-02 09:50:49 · answer #4 · answered by Anonymous · 1⤊ 0⤋