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My husband and I have found a foreclosed home listing for about 40K less than the home is worth. It is in a very ritzy neighborhood and the exterior is beautiful, much more than we could ever afford. However, we have estimated the repairs inside to be about $4,000 and have not had the house inspected yet. Is this a good thing to step into, or is it too good to be true? Any advice would be greatly appreciated as to how to handle this big first-time investment for us!

[Loanmodificationhelp]

you just answered your own question "Much More Than You Can Ever Afford", do not get into what is currently an epidemic foreclosure. Think wisely before you buy.