Foreclosed homes are simply houses that have been taken back by the bank.  The house is then listed on our site and the public MLS for sale by a realtor that represents the bank as the seller.  Financing is available on many homes that have been foreclosed upon.  It always depends on the shape of the property.  If the bank is willing to do repairs to the property, then you most likely can get financing.  Other foreclosed homes are in really bad shape and they will specific state, "Cash Only".