Foreclosure discount banks might give?

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Posted by Brett on March 11, 2010 at 07:10:18:

Hey, I am new to this forum but wanted to ask a general question. For a property priced in the 50K range (a foreclosure), does anyone know if it is even possible for a bank to take 50% of that price in cash? 60%? I am just wondering how much of a loss banks might be willing to take. I would be interested in hearing a few examples of some really good deals you have heard of or gotten so I will know what I am looking at. I am not an investor - just looking for a place to live that I can buy in cash before I save some money for the dream home! Thanks.

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