Good luck with everything. We are going to bite the bullet next week, I hope. Can you please tell me more about the $100 FHA Loan? Thanks
Thanks. The $100 deal is going to be tough to find, heck my realtor had never run across or even heard of it before. It's only for HUD listed houses, and not even all of them. It's basically a tool used to move a house they are having trouble selling for whatever reason. There are no income limits or anything for a HUD house like I initially thought. They are just foreclosed houses that somehow ended up with HUD. They are in everything from good to bad neighborhoods, the one I'm trying for is in one of the best neighborhoods in town. Go here and search for a house. Under the addendums section one will be a welcome home flyer in most cases. At the bottom of it it will say of it's eligible for the $100 down. Dealing with HUD is a pain in the rear as you can't get anyone on the phone, it's all email or fax. It will be worth it in the end for the deal on the house but it can make a frustrating process even more so. But in general they are quick to get back. We had a reply with corrections the same day they received the original contract and got the accepted on back in around three business days. From what I have seen on others dealing with forclosures that's beyond record time.
Edited by boomhower1820, 20 January 2012 - 12:51 AM.