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how to buy a foreclosure: HUD Announces Changes in Anti-Flipping Rule - 01/18/10 03:10 PM
HUD announced Friday that the rules on flipping homes will be changing Feb. 1. This could have a huge effect on the Eugene/Springfield, Lane County Oregon market. This is being done in an effort to stabilize home values and improve conditions in communities where foreclosure activity is high according to HUD Secretary Shaun Donovan. I see this as being a boon to our are in getting rid of more of the foreclosures that have been plaguing our market. Under current rules, foreclosures that were still owned by the banks that purchased them could be bought with an FHA loan but any … (6 comments)
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how to buy a foreclosure: $100 Down Program on HUD Foreclosure - Deschutes County - 03/06/09 04:52 PM
Do you want to buy a home with just a $100 down payment? HUD allows some of the homes that they have foreclosed to be purchase with an FHA loan with only a $100 down payment. Most HUD owned homes in Oregon, Washington, Idaho and Alaska are eligible for this program. This is a great way for a first time home buyer to get into a home with very little down and take advantage of the $8,000 first time home buyer tax credit too. Here is a list of the current Deschutes County foreclosures, according to the HUD website:
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how to buy a foreclosure: Buying a Foreclosure - Finding a Contractor - Part 3 - 02/12/09 04:17 PM
Part 3 in buying a foreclosure using the FHA 203k Streamline Rehab loan has to do with selecting a contractor. And, not just any contactor, but one that will do the job to your specifications in the length of time allowed. The 203k Streamline rehab loan only allows 90 days from closing until the repairs have to be done. Time is as important as price in this situation. You only need a single bid on an FHA 203k Streamline, so you will want to have confidence in your contractor.
The Streamline process does not require a general contractor, but may require … (4 comments)
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how to buy a foreclosure: Buying a Foreclosure - the Realtor - Part 2 - 02/11/09 04:26 PM
You read my last post about some of the problems encountered with a foreclosed property and have gotten yourself set up with a knowledgeable lender and are ready to proceed with the next step in the process. This step in purchasing a foreclosure is probably one of the most important there is in the process, especially for the first time home buyer. If you have bought a home before, you may already be familiar with the process, but if you haven't, it can be daunting. That is why step two is: Finding the right Realtor®.
I am not the world’s greatest expert on Realtors®, … (3 comments)
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Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
Oak Harbor,
WA
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Guild Mortgage Co - Oak Harbor WA
Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277
Office Phone: (360) 675-6106
Cell Phone: (541) 221-3455
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