How do you turn a loan into what is considered cash for a foreclosed purchase?

This is a very broad question. Here are a couple of general answers First you can refinance the home after it has been purchased for a "refi-cash out" loan. Equity in the home can be given to you up front and you just finance the upfront money it into your home loan.

This is also done as a second and third lien on your mortgage. There are many loan guidelines for this to happen. You will need lots of equity in the house, along with good credit Another way is to buy the home, fix it up and sell for a profit.

Could be adding more square foot as well. Pretty general. Just be careful of any prepayments you have on the lien.

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