One Response to “If I buy a HUD house, do I have to live in it for 3 years?”

1. Skip says:

   May 29, 2009 at 1:56 am

   The only thing in your loan docs about living in your home once it is bought is that you sign a statment stating that this will be your primary place to live.

   There is not a term of time that you have to reside in the property, that could not be because so many change careers, jobs, a family crisis, and other things that might require you to break the contract before a certain time is up.

   Now flipping is a bit different if you bought the house to reside in as oppose to as an investor that might make a difference. Investor's are only able to buy a home from HUD after a certain period of time and the type contract you signed. You should check out the contract with your real estate agent.

   I hope this is of some use to you, excellent luck.

   "FIGHT ON"

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