Foreclosure Resident
Do you have to be a permanent resident in America in order to be able to purchase a foreclosure property?
I have heard of many people making money on foreclosure properties in the US however someone once told me you have to be a resident in order to purchase one. Also is it true that to move to America you have to start a business?
Foreclosure properties require the purchaser to pay cash – this is the only requirement. If you do not have cash there are still some lending institutions that will allow you to put about 20% down and pay the balance at a high interest rate until you are able to refinance into a conventional loan.
In order to take out the loan you must be a US citizen but anyone can pay cash for the property, you don’t have to be a US citizen for this.
there is more information available at http://www.foreclosuredb.net
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