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HUD Forclosed Homes for $100 Down!!
FHA has extended indefinitely the $100 HUD Repo Program, which was scheduled to terminate on 9/30/08.
HUD Repos (also known as HUD homes) result from foreclosures on homes secured by FHA-insured mortgages. HUD homes are popular with bargain-minded investors, but for the first 10 days they're available exclusively to bidders who will be owner-occupants. In other words, anyone who wants to buy a HUD home as their new primary residence has priority and gets the first chance to take advantage of these deals. The inventory of HUD homes changes frequently and is growing as foreclosures become more widespread.
Please note: Two types of foreclosures:
1) Not all foreclosure properties are owned by HUD. The key to the FHA Hud $100 down program is whether or not the homeowners had an FHA loan before they lost their house -- if they did, the home goes back to HUD for re-sale.
2) If the did not have an FHA loan, the home goes back to the bank that holds the mortgage, and it becomes a bank foreclosure. The bank which now owns the foreclosed mortgage owns the home and tries to re-sell it.
The application process:
Step 1 -- Get pre-qualifed for the $100 downpayment HUD Homes Program. Apply here online.
Step 2 -- Choose what type of home you want (3,4 bedroom) and area you want to live in
For a list of homes in the area you want to live in please call me, or apply here online. I will contact you immediately.
The first step is to get prequalified! So don't hesitate, apply here online now!
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