Can you get a mortgage allows you to bid on a foreclosure property?

Our realtor recommends that only buyers with cash in hand can purchase foreclosed properties at auction. It is a technical challenge to buy if you need a mortgage you have to be entrusted to get mortgages approved. Is this true or is it a valid way, you can get a loan mortgage offer on a property at auction before?

You must establish a bank in the commercial lending department. Stay away from residential lenders, because they are not involved in investment agreements. Explain what your plan is (to buy seizures) and arrange a line of credit in your winning bid, which becomes a first mortgage lien. Most seizures requires 10-15% to the sale and closing for 30 days. You need security and good credit. Start small and prove to the lender, even if it is really cheap little houses. Make the best friend of your lender, despite his decision, you can always go back.

Hitler can’t get a mortgage loan