Section 8 Homebuyers And Ads In The Paper
Hello Investor,
I have a cousin who lives in New York and currently wants to move in Atlanta. She has a section 8 voucher and supposedly (I didn't beleive at first either) they let you use toward the mortgage on your house.
What would be a great ad to place to attract homeowners offering owner finance or similar programs.
The program you are talking about is really there. The financial institution has to be approved with HUD. Right now in my area the only financing that isavailable is through Fannie Mae or Freddie Mac. The buyer gets a 30 year mortgage and section eight pays it for up to 15 years. They have credit counselors helping these people become responcible members of society with their finances. I have not heard of owner financing being approved, but I am only concerned about certain areas. Maybe it is approved in your area. Call your local section eight office and find out. It is also only being approved by certain counties in my area also.
Lori
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