hud appraisal: HUD / REO Overbid Rule Change for 2014? - 05/11/14 07:22 AM
On 4/24/2014, Amerifirst Mortgage posted this video (presented by Dan Moyle) on youtube advertising a recent change to FHA underwriting guidelines that will now allow buyers using 203k loans to overbid on a HUD property without having to pay the difference in cash.  The video touts that "With the FHA 203k loan, borrowers can now bid on a HUD home based on what the value of the home WILL be, not what it is." 
Providing the actual rehab cost isn't cannibalized by the amount of the overbid, this could be a game changer for buyers who need to reserve capital but … (3 comments)