What is the downside to foreclosure properties?

  • Thread starter Thread starter Xoxo M
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Xoxo M

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Like when you rent a place that has been foreclosed and you're taking over the mortgage so it's really low but it's a very nice place. What are the disadvantages to doing this? They make it sound so good but I know there has to be more to it.
 
You can't "take over the mortgage" on a foreclosed property. You have to purchase it with cash or a new mortgage loan.
 
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