Financing a Foreclosure
I've been given several different answers from friends and acquaintances in regards to purchasing a foreclosed home at Auction. I have heard both, that you need all cash to be able to bid on properties in foreclosure. But I have also been told that you can have the winning bid and use a loan to secure the purchase of a foreclosure.
So, in the bigger pockets experience, which is it? Can I secure a foreclosure property at Auction with a loan that has been pre-approved? Thanks for any help.