Bank Financing Foreclosure

[Bryan Weller]

If you were looking to buy a foreclosure property and you are going to do bank financing, would it make any sense to do the financing from the bank that holds the foreclosure. I wonder if the bank would give you a better deal on the property if they knew they were getting the loan out of it.

[Chris Martin]

Just to be clear you're talking about REO purchases, not foreclosures. The "bank that holds the foreclosure" will do so through a trustee via a power of sale. Very seldom do you see financing of a foreclosures.