Assume a Mortgage? It’s back!

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While not used very often in the last few years, I think we will start seeing more mortgages being assumed since FHA loans are making a comeback.  Any FHA mortgage can be assumed, the new buyer just has to qualify for the existing financing.  This may save the new buyer some up front mortgage fees and if the rate it good, it could work out well for everyone!

August 1, 2009 by ROBERTSV ·

HUD Home Bargains

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As a certified HUD Broker, I can sell HUD owned foreclosures.  If you are not familiar with these properties you might be in for a big surprise, especially if you are in the market to buy.  While they can sometimes need a little work, they can be a bargain.  HUD comes into ownership because they foreclosed on an FHA backed loan.  Not wanting to be landlords, they clean them up and put them back on the market at an attractive price.  Generally, most homes are posted for sale first to owner occupants, and if they don’t sell in the first week or so, they are opened up to investors.  That’s their way of promoting home ownership.  The great thing about buying from them is there are few surprises and they are not emotionally attached to these homes.  It is strictly about the numbers for them.  Once you submit a bid you know if you got it the day after the deadline or within 24 hours on business days-no fooling around.  Some homes even offer FHA financing with only $100 down!  How can you beat that?  Let me know if you want more information on these opportunities!

View available properties at http://www.hmbiweb.com/listings.html

May 5, 2009 by ROBERTSV ·