Real Estate is different for each local markets and buying a foreclosed home could be challenging depending on where you live. It's just like trying to buy a short sale but very much worth the return. I would suggest a SS vs a foreclosure if you want to get into a nice area and a home that hasn't been trashed yet.I see lots of appliances missing and damage in forclosures vs shortsales where the owners usually still live there underwater.
I would highly suggest going local. I looked national for a bit, but was seeing all 3%+ mostly in the realm of 3.5%. Went local and managed to secure a 2.75% with no points. Can't complain what so ever
Rates shop around mostly national rates can be cheaper but seems like Nrdk00 found a good local one. It would be good to see if his local is a CU or bank or local mortgage broker.
Last edited by Superocean; 03-08-2013 at 11:52 AM..
Reason: Automerged Doublepost
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