HUD DOES NOT GRANT LOANS...IF YOU MEAN HOW MANY HOUSES O.O. THEN IT IS 1 EVERY 12 MOS....THEY REQUIRE YOU TO LIVE IN IT FOR 1 YR...IF YOU ARE BUYING AS AN INVESTOR I BELIEVE THERE IS NO LIMIT...HOPE THIS HELPS...CWAL
When you make an offer on a HUD home here in Washington as an owner-occupant, you sign the following:
Warning: Falsifying information on this or any other form of the Department of Housing and Urban Development is a felony. it is punishable by a fine not to exceed $250,000 and/or a prison sentence of not more than two years.
...
I/We certify that I/we have not purchased a HUD-owned property within the past 24 months as an owner-occupant. This offer is being submitted with the representation that I/we will occupy the property as my/our primary residence for at least 12 months.
The agent signs it as well.
form HUD-9548-D (1/98)
This only applies if you're buying as an owner/occupant. If you're buying as an investor there are no limits imposed by HUD that I know of.
[addsig]
Huds in LaLa land are normaly so structured in the offering that the only requirement from the Buyer is that he have a constant heatbeat.
The Seller agrees to pay closing and loan costs. The downpayment is made on the Buyers behalf by a Non Profit Company controlled by the Broker, the Broker sometimes throws in a portion of commission and, this is Classified above Top Secret, "Burn Before Reading," Sometimes if you look at the title some 60 days downstream you will find a second Trust Deed recorded in favor of The Broker, no no thats a naughty, its his brother Al, the one that never works just stands on a corner making Vigarage loans on which you can make payments by tendering nickel bags of some kind of a powder. Yes a really lovely business, but active.
Now thats what you call a true incestious relationship with dear Uncle Sam.
HUD DOES NOT GRANT LOANS...IF YOU MEAN HOW MANY HOUSES O.O. THEN IT IS 1 EVERY 12 MOS....THEY REQUIRE YOU TO LIVE IN IT FOR 1 YR...IF YOU ARE BUYING AS AN INVESTOR I BELIEVE THERE IS NO LIMIT...HOPE THIS HELPS...CWAL
(I originally posted this in another thread)
When you make an offer on a HUD home here in Washington as an owner-occupant, you sign the following:
Warning: Falsifying information on this or any other form of the Department of Housing and Urban Development is a felony. it is punishable by a fine not to exceed $250,000 and/or a prison sentence of not more than two years.
...
I/We certify that I/we have not purchased a HUD-owned property within the past 24 months as an owner-occupant. This offer is being submitted with the representation that I/we will occupy the property as my/our primary residence for at least 12 months.
The agent signs it as well.
form HUD-9548-D (1/98)
This only applies if you're buying as an owner/occupant. If you're buying as an investor there are no limits imposed by HUD that I know of.
[addsig]
HOW MUCH DOWN PAYMENT IS NEEDED FOR A O.O.HUD HOUSE THAT NEEDS REPAIR?
Huds in LaLa land are normaly so structured in the offering that the only requirement from the Buyer is that he have a constant heatbeat.
The Seller agrees to pay closing and loan costs. The downpayment is made on the Buyers behalf by a Non Profit Company controlled by the Broker, the Broker sometimes throws in a portion of commission and, this is Classified above Top Secret, "Burn Before Reading," Sometimes if you look at the title some 60 days downstream you will find a second Trust Deed recorded in favor of The Broker, no no thats a naughty, its his brother Al, the one that never works just stands on a corner making Vigarage loans on which you can make payments by tendering nickel bags of some kind of a powder. Yes a really lovely business, but active.
Now thats what you call a true incestious relationship with dear Uncle Sam.
Include me out. Simplicitas, Lucius