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What is a HUD partial claim and how will it affect my home sale?

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Real Estate Agent with Reid Real Estate Group LLC
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Minna Reid is a Jacksonville Realtor and Broker Associate with Fathom Realty, serving the greater Jacksonville, Florida area and the Jacksonville Beaches. Minna's focus is foreclosure preventionshort sales, and probate sales. Since 2007, Minna has helped hundreds of home sellers and buyers move on to the next chapter of their lives and she has the expertise to get you through even your most complicated real estate transactions smoothly, from listing your property to closing the sale! 
 
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Minna Reid good explanation on HUD Partial Claims Loans.  Couple of other negatives I have run into with HUD Partial Claims is with the Closing Attorney missing the Partial Claim, then they go to purchase another property and the Partial Claim is discovered and has to be paid.  Another is the homeowner thinks they have paid off the Partial Claim, and later finds out the Servicer did not payoff the Partial Claim but instead applied the funds to paying down the principle balance on the 1st mortgage.  Not a good surprises.

Jul 30, 2019 12:38 PM