Question:

When Buying Foreclosure, Can I just Pay Loan Amount and Pocket Equity?

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I was going thru a Foreclose listing and saw someting like this:

Eqty 93% Mkt Val $707,000 Ln Date 06/22/06, Ln amount $50,000.

So, what is this supposed to mean? Does it mean that if I have 50K in cash I can just go and buy it and have 707K equity all in my name?

I am new to all this.

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3 ANSWERS


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