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House Owned by Bank
  I am looking to purchase a home owned by a bank. I HEAR their money is federally insured up to 25%. Does this mean I can offer 25% less than asking price ?
It would be a great deal and eliminate PMI as you'd move in with equity !
 
 

Good try, but I'm afraid no cigars.
    Edith
Originally published on April 21, 2008
 
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