Home : Blogs : Cecelia Marlow : Chicago Real Estate Market and Mortgage Blog

$100 Down Payment Initiative for HUD REO's

Did you know that buyer's can buy a HUD REO with as little as $100 Earnest Money. This may be good news for some. The Atlanta Homeownership Center approved the use of this initiative for Illinois and Indiana for purchaser's using FHA financing. This is specifically geared towards Owner Occupants, effective date Oct. 5, 2007.

This incentive is not available unless it is presented on the executed contract presented to the closing agent. For more information visit www.hud.gov click on HUD Homes and choose your state to see if it is applicable there. This is a great incentive for Illinois and Indiana homebuyers! Happy Closings!

Need money for rehabbing the property check out my post on FHA $$$ for REO's & Bank Owned Properties. Simple process for everyday consumers.

Cecelia Marlow - www.ceceliaknowsmortgages.com

Posted by Cecelia Marlow on 08/14/2008 11:00 PM

Comments (3)

hud homes, fha, chicago foreclosure, foreclosure, chicago reos, bank owned properties, low down payment, 1st time homebuyer, panamerican

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3 Comments on $100 Down Payment Initiative for HUD REO's

AUG

2008

I will check this out. I have a couple of clients who may be interested in this program.

I am doing on right now and it is great!! my clients have saved money and are very happy.

Kudos to you guys! Thanks for the comments!

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