OfflineHUD is accepting $100 as a down payment instead of the 3.5% they used to require for purchases in some states to unload about 40,000 properties that were owned by Countrywide Mortgage (now Bank of America)
article link below...
http://realestate.msn.com/get-a-foreclosed-home-for-100-down
Valerie
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Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
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Hi thanks for tht info, Jim
jbischoff
Good news if you are looking to reside in the property. You must occupy the property yourself to qualify. This was done to discourage house flippers (read investors)
Mentoring/Team Building Nationwide
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Its great to see the real marketplace dictating policy. When they sit on so moany properties it is common sense to react to the market, make it easier for buyers who can afford a monthly payment to buy, then the inventory is moved from a non-performing "REO" to a sold property making payments.
Me and Michael know a few.
Right Michael lol???
Are you referring to not living in the property?
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
hi, i just have a question dont know where to post it a guy is seling me a land he wants 80k for it is 10 acrea is in a god spot it seems cheap to me and he is willing to owner finance and i have great plans for this piece of property so my question is how can i check this guy is not a fraud that that is his property his just not trying to rip me off with the down payment so please anybody can help me i will be appreciate it thank yall .
I understand, you don't wanna get ripped off and that is a lot of money!! You can always start by asking to see the deed.
Making sure there are no liens.
Assessors of Property may be a good starting place.
Also, there are government sites for the state you are in that will allow you to see who owns it, possibly how long, the amount of land for that area, and the property's most recent appraised value! You can start by going to your state's website. For instance, tennessee's is tennessee.gov and virginia's is virginia.gov and kentucky's is kentucky.gov.
Hope this helps!!
If I can recount all the good deeds I've done, I haven't done enough.
The more desparation sets in the more flexible they are willing to become. This is great news. Thanks for the heads up.
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich