Can a mortgage company require you to use their lending to purchase a piece of property they are selling Posted on August 11, 2011

I am looking to purchase a piece of property recently foreclosed on by bank A. I have all requirements including a pre-qualified letter from my own bank B. Bank A is saying that the loan must go through them for the sale to continue. Is this legal? It appears as though bank A is just trying to recoup some of their losses through interest on a new loan.

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