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Does RCU loan money to purchase a foreclosed property?

Our loans go through an escrow process and need the home as collateral, so we can lend on a foreclosure, but the bank has to be willing to wait for the loan process (about 30-45 days) to close. We do not give out unsecured money to buy foreclosed homes at an auction or on the courthouse steps.

Also, the house has to be in good condition with everything functioning (no health and safety issues). We do not lend on "fixers".

If you have further questions, please call us at 1 (800) 609-9009 and we will be glad to assist you.