Whats The Best Way To Finance A Preforeclosure?
I was wondering what everyone thinks is the best way to finance a preforeclosure that I plan on flipping?
I have a house, cash, and good credit, and i would perfer to put as little money out of pocket as possible.
I was wondering how the banks view a scenario like the following
house is worth 200K
seller owes 130K
If I want to borrow 130-140 will they want me to put something $$ down?? even though the houe will have 30-35% equity?
Is this a safe enough margin to buy for a flip?
Sorry if i sound like a newb,; because I am, but I'm learning 
Find a good mortgage broker that workw with investors who can help you find creative ways of avoiding a downpayment. They can find 100% LTV loans, or loans that base the LTV off of the appraised value, and even use seller consessions to cut down on closing costs.
Tanya