Foreclosures FAQ
Who is eligible to purchase a foreclosed property from Founders Federal Credit Union?
Founders Federal Credit Union does not allow the sale of any repossessed collateral to an employee, officer, director or their close relatives. The Credit Union defines close relatives as Spouse, Parents, Child (adopted, foster or legal ward), Siblings, Grandparents, Grandchildren, Aunts, Uncles, Nieces, Nephews, or Domestic Partner, including all such relationships that exist through marriage or domestic partnership (i.e. step-, half-, and in-laws).
What steps do I take if I am interested in a foreclosed property?
You may submit a form online to request more information about the property, or call 800-845-1614 to speak with a representative. If you are not already preapproved for a mortgage, a Founders Mortgage Loan Officer will be glad to assist you with your application.
Does Founders offer any special financing for foreclosed property?
We do have special financial opportunities for foreclosed properties. For details on these options, please call 800-845-1614.
Who do I call for financing questions regarding rates, terms and loan options?
Call 800-845-1614 and a Mortgage Loan Officer will be glad to answer these questions for you. Please note, loan approval does not guarantee collateral availability.
Important Notice
Disclosure
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