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100 dollar down HUD program TERMINATED in Colorado, what other states are effected.
My broker learned some disturbing news yesterday about HUD's 100 dollar down loan program when she submited her buyer's package, What she learned it was no longer availbable to anyone in the US. My broker was initially in disbelief untill she called HUD herself and found out verbally and in a e-mail that it was no longer available.
Just in case you are suspicious, below you will find the e-mail response from the HUD director in Colorado:
From: Taylor, Larry W [mailto:Larry.W.Taylor@hud.gov] Sent: Wednesday, December 01, 2010 11:49 AMTo: (Intentionally left blank)Subject: RE: (intentionally left blank) I apologize for the confusion.  The $100 down incentive (not program) is no longer available in the Denver REO jurisdiction.  There are appearances of the incentive appearing on HUD's website and it is being removed as soon as possible.  Now, if the property was advertised under the old M&M 2 contract---in this case MCBREO with the $100.00 down and on their site-we will honor the incentive to the date the bid was acknowledged as the winning bid.   We will be considering a need for future incentives based on market driven needs.  Please watch the current AM website, MLS, and hudhomestore for any future offerings.   L.W. Taylor, Branch ... more

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