| Foreclosure Bailout Loans |
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Qualifying for a foreclosure bailout loan has become far more difficult than in the past. To qualify for a foreclosure bailout loan, a homeowner needs 25% to 35 % equity in there home. This would mean that if your home was worth $200,000 dollars, then you would have to owe $140,000 or less to qualify for a bailout. With declining home values across the nation, only a small percentage of homeowners have enough equity to qualify. Typically a foreclosure bailout loan is a very expensive process. Most hard money lenders lend at the state maximum interest rate with the maximum points allowed.
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