In response to your question, the term “ HUD home” refers to a single-family residence or other type of property that has an FHA loan on it. So you can’t “turn” your home into a HUD property. The only way to avoid losing your home is to …
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Can I Turn My Home into a HUD Property? Question a REALTOR® | Realty Times
I would suggest you may want to ask the listing agent prior to even viewing the property. Keep in mind, the listing agent has the "signed 3rd party authorization letter" on behalf of the seller so they are the ones in the driver's seat. ... (This can be HUGE!!) Will you notify us so we can be present at the time of BPO? Do you have ALL documents you need for the short sale package minus a purchase contract, pre-qualification and HUD-1? How quickly do you typically hear ...
Does the appraiser signing the report have to inspect the property? Why do I ask? Because the person who signed my report was not at the home. Someone else was, and her name is nowhere to be found on the report, not as a trainee, an assistant or otherwise. ..... Too many times when I was appraising a Realtor would dispute a value and provide not only sales that were not comparable to the subject, but would even provide the same properties I already used in the report. ...
The property being purchased can not be owned by a close relative like a parent, grandparent or one of your children. The definition in bill for a first time home buyer is anyone that has not owned a home in the last three years. ..... I contacted the IRS on 3/7/10 and they told me that HBTC returns weren't placed into queue to process until Feb 15th. They also said that I should expect to wait 6-12 weeks from Feb 15th. I sent my return in with just a HUD-1 statement. ...