HUD has recently launched sales incentives for the purchase and sale of HUD homes.
The FHA repair escrow amount, which allows a borrower to purchase a home that needs repairs using a mortgage, has been increased to $10,000!
A selling broker's NAID number is needed to submit a bid and to get paid by HUD.
Sage Acquisition, HUD's newest Asset Management company, is off to a great start! Checkout what has changed and what has remained the same, here!
Sage Acquisitions and PEMCO Limited will oversee HUD's Asset Management’s services in Ohio; slim lining the process from three to one Asset Manager and one Field Service Manager.
Are you aware that if a borrower enter into a FHA contract for an amount above the home’s value, the buyer may back out of the transaction or renegotiate the sales price because of a required amendatory clause. Check it our here!
There are always lots of questions about HUD homes and lending. Here Rob Barry, Concord Mortgage Group, and I, do a Q&A on types of loans available to buyers purchasing HUD Homes.
Tips for securing keys, handling earnest money deposits and buying and selling HUD homes are discussed here.
The process for getting the water, gas, and electric turned on in a HUD home and the inspector and appraiser out in the allotted time period can be daunting. But you must persevere if you want to close the deal.
2700 Airport Drive Columbus, Ohio 43219