/biz/ - Business & Finance

Anonymous Wed Mar 4 20:00:44 2020 No.17583023 [View]
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Need some home buying investing advice.
I'm in the middle of a bidding war for a tax deed sale. The current bid is at $50k and way out of my max bid range.
For those who know how this works, what kind of loan with lowest APR can I get to upset this bid?
I figured I could get a regular mortgage loan and if I win the bid probably around $80k, I just can use the mortgage loan like a bank account.
>go to lender
>ask for $100k mortgage loan
>they cut me a check (I think that's how it works)
>deposit check into bank account
>write a check to pay for winning bid

Any advice would be helpful. Its for a house I want to live in.

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/biz/ - Business & Finance

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